DekaBank Deutsche Girozentrale boosted its position in shares of PPL Co. (NYSE:PPL – Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,763 shares of the utilities provider’s stock after buying an additional 3,753 shares during the period. DekaBank Deutsche Girozentrale’s holdings in PPL were worth $1,039,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of PPL by 0.3% in the first quarter. BlackRock Inc. now owns 60,166,843 shares of the utilities provider’s stock valued at $1,672,037,000 after purchasing an additional 195,849 shares during the period. State Street Corp increased its holdings in shares of PPL by 4.8% in the first quarter. State Street Corp now owns 42,759,744 shares of the utilities provider’s stock valued at $1,229,596,000 after purchasing an additional 1,971,238 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of PPL by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 13,015,502 shares of the utilities provider’s stock valued at $361,701,000 after purchasing an additional 129,373 shares during the period. Invesco Ltd. increased its holdings in shares of PPL by 6.4% in the first quarter. Invesco Ltd. now owns 12,884,134 shares of the utilities provider’s stock valued at $367,969,000 after purchasing an additional 775,294 shares during the period. Finally, FMR LLC increased its holdings in shares of PPL by 1.2% in the first quarter. FMR LLC now owns 12,044,189 shares of the utilities provider’s stock valued at $334,708,000 after purchasing an additional 139,500 shares during the period. Institutional investors and hedge funds own 73.09% of the company’s stock.
PPL Stock Up 1.0 %
PPL opened at $23.89 on Friday. The business’s fifty day moving average is $24.81 and its two-hundred day moving average is $26.50. 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 company has a market cap of $17.61 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 2.02 and a beta of 0.79. PPL Co. has a one year low of $22.20 and a one year high of $31.74.
PPL Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a $0.24 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.02%. PPL’s dividend payout ratio is currently 92.31%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Barclays initiated coverage on PPL in a report on Wednesday, August 23rd. They issued an “equal weight” rating and a $26.00 target price on the stock. UBS Group downgraded PPL from a “buy” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $25.00 in a research note on Wednesday, October 4th. Royal Bank of Canada restated an “outperform” rating on shares of PPL in a research note on Monday, October 2nd. TheStreet downgraded PPL from a “b-” rating to a “c” rating in a research note on Friday, August 4th. Finally, Morgan Stanley decreased their price target on PPL from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.13.
Read Our Latest Stock Report on PPL
PPL 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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