PPL Corporation (NYSE:PPL) Holdings Decreased by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in PPL Corporation by 24.4% during the first quarter, now holding 43,620 shares valued at approximately $1.575 million.
• PPL has recently received varying ratings from analysts, with a consensus average rating of "Buy" and an average price target of $36.70.
• PPL Corporation's latest earnings report showed that it missed analysts' EPS expectations, reporting $0.32 compared to the $0.37 consensus, while its revenue grew 7.7% year-over-year.

Gulf International Bank UK Ltd reduced its stake in shares of PPL Corporation (NYSE:PPL - Free Report) by 24.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,620 shares of the utilities provider's stock after selling 14,065 shares during the quarter. Gulf International Bank UK Ltd's holdings in PPL were worth $1,575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cerity Partners LLC raised its position in PPL by 9.5% in the fourth quarter. Cerity Partners LLC now owns 40,298 shares of the utilities provider's stock worth $1,318,000 after acquiring an additional 3,510 shares in the last quarter. Renaissance Technologies LLC raised its position in PPL by 613.8% in the fourth quarter. Renaissance Technologies LLC now owns 122,774 shares of the utilities provider's stock worth $3,985,000 after acquiring an additional 105,574 shares in the last quarter. Advisory Services Network LLC raised its position in PPL by 6.4% in the fourth quarter. Advisory Services Network LLC now owns 11,570 shares of the utilities provider's stock worth $376,000 after acquiring an additional 691 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in PPL by 6.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 46,606 shares of the utilities provider's stock worth $1,513,000 after acquiring an additional 2,805 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in PPL by 9.4% in the fourth quarter. Townsquare Capital LLC now owns 16,168 shares of the utilities provider's stock worth $525,000 after acquiring an additional 1,391 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PPL has been the topic of several research reports. Wall Street Zen upgraded shares of PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley dropped their price target on shares of PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Guggenheim boosted their price target on shares of PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Barclays upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PPL presently has an average rating of "Buy" and an average price target of $36.70.

Insider Transactions at PPL

In other news, COO David J. Bonenberger sold 2,165 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $35.86, for a total transaction of $77,636.90. Following the transaction, the chief operating officer directly owned 45,560 shares in the company, valued at $1,633,781.60. The trade was a 4.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.28% of the stock is currently owned by insiders.

PPL Stock Down 0.3%

Shares of PPL stock opened at $37.12 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 1.07. PPL Corporation has a 1 year low of $30.76 and a 1 year high of $37.31. The stock has a 50-day moving average price of $34.93 and a 200 day moving average price of $34.83. The company has a market cap of $27.45 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.67 and a beta of 0.64.

PPL (NYSE:PPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.05). PPL had a return on equity of 8.81% and a net margin of 11.22%. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.99 billion. During the same period last year, the company earned $0.38 earnings per share. PPL's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts expect that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Profile

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.

Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corporation (NYSE:PPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.