Rhumbline Advisers Grows Stock Position in PPL Co. (NYSE:PPL)

Rhumbline Advisers grew its stake in PPL Co. (NYSE:PPL - Free Report) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,373,077 shares of the utilities provider's stock after purchasing an additional 95,442 shares during the period. Rhumbline Advisers owned approximately 0.19% of PPL worth $49,582,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Global Retirement Partners LLC increased its holdings in shares of PPL by 2.4% in the fourth quarter. Global Retirement Partners LLC now owns 12,530 shares of the utilities provider's stock valued at $407,000 after purchasing an additional 299 shares during the period. Norinchukin Bank The increased its holdings in shares of PPL by 1.1% in the fourth quarter. Norinchukin Bank The now owns 28,002 shares of the utilities provider's stock valued at $909,000 after purchasing an additional 299 shares during the period. Opal Wealth Advisors LLC increased its holdings in shares of PPL by 4.7% in the fourth quarter. Opal Wealth Advisors LLC now owns 6,797 shares of the utilities provider's stock valued at $221,000 after purchasing an additional 305 shares during the period. Choreo LLC increased its holdings in shares of PPL by 0.9% in the fourth quarter. Choreo LLC now owns 37,622 shares of the utilities provider's stock valued at $1,230,000 after purchasing an additional 322 shares during the period. Finally, Frank Rimerman Advisors LLC increased its holdings in shares of PPL by 3.0% in the fourth quarter. Frank Rimerman Advisors LLC now owns 11,272 shares of the utilities provider's stock valued at $366,000 after purchasing an additional 329 shares during the period. Institutional investors and hedge funds own 76.99% of the company's stock.

PPL Price Performance

PPL traded down $0.15 during trading on Thursday, reaching $34.03. 3,536,631 shares of the stock were exchanged, compared to its average volume of 4,951,713. The business's 50 day moving average price is $35.14 and its two-hundred day moving average price is $34.17. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.71. The company has a market capitalization of $25.15 billion, a price-to-earnings ratio of 28.12, a P/E/G ratio of 2.77 and a beta of 0.65. PPL Co. has a 1 year low of $27.24 and a 1 year high of $36.70.

PPL (NYSE:PPL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.07. PPL had a net margin of 10.49% and a return on equity of 8.88%. The business had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same period last year, the company posted $0.54 EPS. The company's revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that PPL Co. will post 1.83 earnings per share for the current year.

PPL Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a $0.2725 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.09 annualized dividend and a dividend yield of 3.20%. PPL's dividend payout ratio is currently 80.74%.

Insider Activity

In other news, COO David J. Bonenberger sold 1,767 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $34.98, for a total value of $61,809.66. Following the sale, the chief operating officer now directly owns 45,485 shares in the company, valued at $1,591,065.30. This represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.28% of the company's stock.

Analyst Ratings Changes

PPL has been the topic of a number of recent research reports. Citigroup raised PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Barclays lifted their price target on PPL from $33.00 to $36.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 25th. UBS Group lifted their price target on PPL from $35.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley lifted their price target on PPL from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Finally, Guggenheim lifted their price target on PPL from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.90.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.