Truist Financial Corp lifted its position in shares of PPL Co. (NYSE:PPL – Free Report) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 707,506 shares of the utilities provider’s stock after purchasing an additional 35,031 shares during the quarter. Truist Financial Corp owned approximately 0.10% of PPL worth $19,662,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Balentine LLC grew its holdings in shares of PPL by 16.4% during the 4th 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 boosted its stake in PPL by 59.2% in the 4th quarter. ING Groep NV now owns 125,192 shares of the utilities provider’s stock valued at $3,658,000 after buying an additional 46,550 shares in the last quarter. Assetmark Inc. boosted its stake in PPL by 1.1% in the 4th quarter. Assetmark Inc. now owns 1,358,364 shares of the utilities provider’s stock valued at $39,691,000 after buying an additional 14,810 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in PPL by 14.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 201,267 shares of the utilities provider’s stock valued at $5,593,000 after buying an additional 25,447 shares in the last quarter. Finally, Credit Suisse AG boosted its stake in PPL by 4.0% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the company. Guggenheim decreased their price target on PPL from $34.00 to $31.00 in a research note on Friday, July 7th. TheStreet lowered PPL from a “b-” rating to a “c” rating in a research note on Friday. StockNews.com initiated coverage on PPL in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Morgan Stanley lifted their price objective on PPL from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, July 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and a consensus target price of $31.71.
PPL Trading Up 0.1 %
PPL stock opened at $26.11 on Tuesday. The company has a market cap of $19.24 billion, a P/E ratio of 25.11, a PEG ratio of 2.22 and a beta of 0.78. PPL Co. has a twelve month low of $23.47 and a twelve month high of $31.74. The company has a quick ratio of 0.90, a current ratio of 1.09 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average of $26.78 and a 200-day moving average of $27.60.
PPL (NYSE:PPL – Get Free Report) last released its earnings results on Friday, August 4th. The utilities provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.27 billion. PPL had a return on equity of 7.75% and a net margin of 8.79%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. As a group, equities research analysts expect that PPL Co. will post 1.59 EPS for the current year.
PPL Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 9th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $0.96 dividend on an annualized basis and a yield of 3.68%. PPL’s dividend payout ratio is presently 92.31%.
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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