PPL Corporation (NYSE:PPL) Stake Lowered by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd cut its holdings in PPL Corporation (NYSE:PPL - Free Report) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,681 shares of the utilities provider's stock after selling 8,339 shares during the period. PPL makes up 2.9% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 16th biggest holding. Ausbil Investment Management Ltd's holdings in PPL were worth $4,538,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in shares of PPL in the fourth quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new position in PPL in the fourth quarter valued at approximately $32,000. Larson Financial Group LLC boosted its stake in PPL by 84.5% in the fourth quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 579 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in PPL by 121.4% in the first quarter. AdvisorNet Financial Inc now owns 1,581 shares of the utilities provider's stock valued at $57,000 after acquiring an additional 867 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of PPL by 69.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,072 shares of the utilities provider's stock valued at $67,000 after buying an additional 846 shares during the period. 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. Citigroup raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Guggenheim upped their price target on shares of PPL from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Barclays increased their target price on shares of PPL from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 25th. Wall Street Zen raised shares of PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Morgan Stanley cut their price target on shares of PPL from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.80.

Insider Activity at PPL

In related news, COO David J. Bonenberger sold 1,767 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 45,485 shares in the company, valued at approximately $1,591,065.30. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by company insiders.

PPL Price Performance

Shares of NYSE PPL opened at $33.75 on Monday. PPL Corporation has a twelve month low of $27.24 and a twelve month high of $36.70. The stock's 50 day moving average price is $34.91 and its 200-day moving average price is $34.11. The company has a market capitalization of $24.95 billion, a PE ratio of 25.00, a PEG ratio of 2.49 and a beta of 0.65. 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 (NYSE:PPL - Get Free Report) last announced its earnings results 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 return on equity of 9.14% and a net margin of 11.49%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company's revenue was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that PPL Corporation will post 1.83 EPS for the current year.

PPL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.09 annualized dividend and a yield of 3.23%. PPL's payout ratio is 80.74%.

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.

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