Creative Planning lowered its position in shares of PPL Co. (NYSE:PPL – Free Report) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,486 shares of the utilities provider’s stock after selling 674 shares during the period. Creative Planning’s holdings in PPL were worth $1,495,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in PPL. Epoch Investment Partners Inc. bought a new position in PPL during the 1st quarter worth $595,000. Vinva Investment Management Ltd bought a new position in PPL during the 1st quarter worth $679,000. Hartford Investment Management Co. increased its stake in PPL by 16.7% during the 1st quarter. Hartford Investment Management Co. now owns 61,936 shares of the utilities provider’s stock worth $1,721,000 after acquiring an additional 8,878 shares during the period. Nisa Investment Advisors LLC increased its stake in PPL by 14.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 201,267 shares of the utilities provider’s stock worth $5,593,000 after acquiring an additional 25,447 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in PPL by 8.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 596,464 shares of the utilities provider’s stock worth $16,576,000 after acquiring an additional 46,614 shares during the period. Institutional investors own 73.09% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on PPL. StockNews.com raised PPL from a “sell” rating to a “hold” rating in a report on Friday. Morgan Stanley cut their target price on PPL from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, August 23rd. Barclays assumed coverage on PPL in a report on Wednesday, August 23rd. They set an “equal weight” rating and a $26.00 target price on the stock. Guggenheim cut their target price on PPL from $31.00 to $27.00 in a report on Monday. Finally, TheStreet downgraded PPL from a “b-” rating to a “c” rating in a report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, PPL currently has an average rating of “Hold” and a consensus price target of $30.13.
PPL Price Performance
Shares of NYSE PPL opened at $23.65 on Friday. PPL Co. has a twelve month low of $22.20 and a twelve month high of $31.74. The stock’s 50 day moving average price is $24.86 and its 200-day moving average price is $26.52. The company has a market capitalization of $17.43 billion, a PE ratio of 22.74, a PEG ratio of 2.02 and a beta of 0.79. The company has a quick ratio of 0.90, a current ratio of 1.09 and a debt-to-equity ratio of 1.04.
PPL (NYSE:PPL – Get Free Report) last posted its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). PPL had a net margin of 8.79% and a return on equity of 7.75%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company posted $0.30 EPS. PPL’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts anticipate that PPL Co. will post 1.58 EPS for the current year.
PPL Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.06%. PPL’s dividend payout ratio is currently 92.31%.
PPL Company Profile
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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