Global Retirement Partners LLC lifted its position in PPL Co. (NYSE:PPL – Free Report) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,978 shares of the utilities provider’s stock after purchasing an additional 866 shares during the quarter. Global Retirement Partners LLC’s holdings in PPL were worth $199,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of PPL. Allworth Financial LP raised its stake in shares of PPL by 165.7% in the first quarter. Allworth Financial LP now owns 898 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 560 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of PPL in the fourth quarter valued at $25,000. Worth Asset Management LLC acquired a new position in shares of PPL in the first quarter valued at $27,000. Compass Wealth Management LLC acquired a new position in shares of PPL in the fourth quarter valued at $29,000. Finally, Glass Jacobson Investment Advisors llc acquired a new position in shares of PPL in the fourth quarter valued at $33,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PPL has been the subject of several recent analyst reports. StockNews.com initiated coverage on PPL in a research note on Thursday, May 18th. They set a “hold” rating for the company. TheStreet lowered PPL from a “b-” rating to a “c” rating in a research note on Friday, August 4th. Morgan Stanley increased their price objective on PPL from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, July 21st. Finally, Guggenheim dropped their price objective on PPL from $34.00 to $31.00 in a research note on Friday, July 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PPL presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.67.
PPL Price Performance
Shares of PPL stock opened at $26.10 on Friday. The stock’s fifty day moving average is $26.79 and its 200-day moving average is $27.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.90 and a current ratio of 1.09. The stock has a market capitalization of $19.24 billion, a PE ratio of 25.10, a PEG ratio of 2.23 and a beta of 0.78. PPL Co. has a 52 week low of $23.47 and a 52 week high of $31.74.
PPL (NYSE:PPL – Get Free Report) last announced its earnings results on Friday, August 4th. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The business 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%. PPL’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. Equities research analysts expect that PPL Co. will post 1.59 EPS for the current fiscal year.
PPL Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 9th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, June 8th. PPL’s 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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