Chicago Equity Partners LLC increased its stake in shares of PPL Corp (NYSE:PPL) by 15.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,370 shares of the utilities provider’s stock after acquiring an additional 1,360 shares during the quarter. Chicago Equity Partners LLC’s holdings in PPL were worth $294,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of PPL by 69.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,928,783 shares of the utilities provider’s stock valued at $312,017,000 after purchasing an additional 4,489,564 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of PPL during the 3rd quarter valued at approximately $492,000. Aperio Group LLC grew its holdings in shares of PPL by 17.4% during the 3rd quarter. Aperio Group LLC now owns 401,213 shares of the utilities provider’s stock valued at $11,740,000 after purchasing an additional 59,495 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of PPL by 10.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 106,823 shares of the utilities provider’s stock valued at $2,854,000 after purchasing an additional 9,982 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in shares of PPL by 17.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 35,931 shares of the utilities provider’s stock valued at $1,051,000 after purchasing an additional 5,321 shares during the last quarter. Hedge funds and other institutional investors own 75.59% of the company’s stock.
PPL opened at $31.42 on Friday. PPL Corp has a fifty-two week low of $25.30 and a fifty-two week high of $32.46. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.47 and a current ratio of 0.53. The company has a market cap of $22.35 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 2.53 and a beta of 0.55.
PPL (NYSE:PPL) last posted its earnings results on Thursday, February 14th. The utilities provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. PPL had a net margin of 23.47% and a return on equity of 14.91%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts forecast that PPL Corp will post 2.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be issued a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 5.25%. This is a positive change from PPL’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, March 7th. PPL’s payout ratio is presently 68.33%.
In other news, SVP Joanne H. Raphael sold 22,410 shares of the company’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $31.00, for a total value of $694,710.00. Following the sale, the senior vice president now directly owns 39,209 shares of the company’s stock, valued at approximately $1,215,479. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Paul W. Thompson sold 7,419 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $31.28, for a total transaction of $232,066.32. The disclosure for this sale can be found here. Insiders have sold a total of 54,042 shares of company stock worth $1,635,805 over the last three months. Insiders own 0.38% of the company’s stock.
Several brokerages recently issued reports on PPL. SunTrust Banks reaffirmed a “buy” rating and set a $35.00 price target on shares of PPL in a report on Wednesday, February 13th. Evercore ISI lowered shares of PPL from an “outperform” rating to an “in-line” rating in a report on Thursday, February 7th. Bank of America lowered shares of PPL from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $29.00 to $28.00 in a report on Monday, January 14th. Zacks Investment Research raised shares of PPL from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Finally, Desjardins reaffirmed an “average” rating and set a $52.00 price target on shares of PPL in a report on Monday, January 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.33.
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PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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