PPL Corporation (NYSE:PPL) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of PPL Corporation (NYSE:PPL - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,975,310 shares of the utilities provider's stock after acquiring an additional 250,564 shares during the period. Envestnet Asset Management Inc. owned about 0.40% of PPL worth $107,438,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in PPL in the 4th quarter valued at about $26,000. Pinnacle Bancorp Inc. grew its stake in PPL by 141.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after buying an additional 423 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in PPL during the 4th quarter worth approximately $32,000. HM Payson & Co. lifted its position in PPL by 1,057.6% during the 1st quarter. HM Payson & Co. now owns 984 shares of the utilities provider's stock worth $36,000 after acquiring an additional 899 shares during the period. Finally, Larson Financial Group LLC lifted its position in PPL by 84.5% during the 4th quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider's stock worth $41,000 after acquiring an additional 579 shares during the period. Institutional investors and hedge funds own 76.99% of the company's stock.

Insider Transactions at PPL

In other PPL news, COO David J. Bonenberger sold 1,767 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $34.98, for a total transaction of $61,809.66. Following the completion of the sale, the chief operating officer owned 45,485 shares of the company's stock, valued at approximately $1,591,065.30. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.28% of the company's stock.

PPL Price Performance

Shares of NYSE:PPL opened at $33.80 on Thursday. The company has a market cap of $24.99 billion, a P/E ratio of 25.04, a P/E/G ratio of 2.47 and a beta of 0.64. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. PPL Corporation has a 52 week low of $27.29 and a 52 week high of $36.70. The business has a fifty day simple moving average of $34.35 and a 200-day simple moving average of $34.20.

PPL (NYSE:PPL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.07. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.15 billion. PPL had a return on equity of 9.14% and a net margin of 11.49%. The business's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 earnings per share. Equities research analysts forecast that PPL Corporation will post 1.83 EPS for the current year.

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Tuesday, June 10th. PPL's dividend payout ratio (DPR) is presently 80.74%.

Analysts Set New Price Targets

PPL has been the subject of a number of recent research reports. Guggenheim increased their price objective on PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. UBS Group lifted their price objective on PPL from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Barclays raised PPL from a "hold" rating to a "strong-buy" rating in a report on Monday. Wall Street Zen raised PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Morgan Stanley cut their price target on PPL from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, PPL currently has a consensus rating of "Buy" and an average price target of $36.70.

PPL Company 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.

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