Signaturefd LLC decreased its stake in PPL Co. (NYSE:PPL – Free Report) by 16.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,298 shares of the utilities provider’s stock after selling 877 shares during the quarter. Signaturefd LLC’s holdings in PPL were worth $119,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Balentine LLC grew its position in shares of PPL by 16.4% during the fourth quarter. Balentine LLC now owns 15,895 shares of the utilities provider’s stock worth $464,000 after purchasing an additional 2,241 shares in the last quarter. ING Groep NV grew its position in shares of PPL by 59.2% during the fourth quarter. ING Groep NV now owns 125,192 shares of the utilities provider’s stock worth $3,658,000 after purchasing an additional 46,550 shares in the last quarter. Assetmark Inc. grew its position in shares of PPL by 1.1% during the fourth quarter. Assetmark Inc. now owns 1,358,364 shares of the utilities provider’s stock worth $39,691,000 after purchasing an additional 14,810 shares in the last quarter. Credit Suisse AG boosted its stake in PPL by 4.0% during the fourth quarter. Credit Suisse AG now owns 516,630 shares of the utilities provider’s stock valued at $15,096,000 after buying an additional 19,978 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in PPL by 2.8% during the fourth quarter. New York State Common Retirement Fund now owns 707,925 shares of the utilities provider’s stock valued at $20,686,000 after buying an additional 19,500 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.
PPL Price Performance
NYSE:PPL opened at $27.80 on Tuesday. The firm has a market capitalization of $20.49 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 2.36 and a beta of 0.78. PPL Co. has a 1 year low of $23.47 and a 1 year high of $31.74. The business has a 50 day simple moving average of $26.70 and a 200-day simple moving average of $27.79. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.23 and a quick ratio of 1.05.
PPL Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 9th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Thursday, June 8th. PPL’s dividend payout ratio is currently 91.43%.
Analyst Ratings Changes
PPL has been the subject of a number of research reports. TheStreet raised PPL from a “c+” rating to a “b” rating in a research note on Thursday, May 4th. Guggenheim dropped their price target on PPL from $34.00 to $31.00 in a research note on Friday, July 7th. StockNews.com initiated coverage on PPL in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, Morgan Stanley increased their price target on PPL from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, PPL has a consensus rating of “Moderate Buy” and an average price target of $31.71.
About PPL
PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.5 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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