Rhumbline Advisers Has $50.49 Million Stock Holdings in PPL Corporation $PPL

Rhumbline Advisers decreased its holdings in shares of PPL Corporation (NYSE:PPL) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,358,732 shares of the utilities provider’s stock after selling 17,217 shares during the period. Rhumbline Advisers’ holdings in PPL were worth $50,490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC lifted its stake in PPL by 39.5% in the first quarter. Empowered Funds LLC now owns 19,166 shares of the utilities provider’s stock valued at $692,000 after buying an additional 5,428 shares during the period. Woodline Partners LP grew its position in shares of PPL by 40.7% during the 1st quarter. Woodline Partners LP now owns 62,375 shares of the utilities provider’s stock worth $2,252,000 after buying an additional 18,057 shares during the period. Focus Partners Wealth increased its stake in shares of PPL by 13.0% in the 1st quarter. Focus Partners Wealth now owns 26,861 shares of the utilities provider’s stock valued at $971,000 after acquiring an additional 3,084 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of PPL in the 2nd quarter valued at about $84,000. Finally, Roffman Miller Associates Inc. PA raised its position in shares of PPL by 12.4% in the 2nd quarter. Roffman Miller Associates Inc. PA now owns 298,908 shares of the utilities provider’s stock valued at $10,130,000 after acquiring an additional 32,945 shares during the period. 76.99% of the stock is currently owned by institutional investors.

PPL Stock Up 3.3%

PPL stock opened at $37.81 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.77 and a quick ratio of 0.66. The stock has a market capitalization of $27.97 billion, a P/E ratio of 25.54, a P/E/G ratio of 2.55 and a beta of 0.70. PPL Corporation has a fifty-two week low of $32.50 and a fifty-two week high of $38.26. The business has a 50-day moving average of $35.36 and a 200-day moving average of $36.09.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Wednesday, December 10th were given a $0.2725 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $1.09 dividend on an annualized basis and a yield of 2.9%. PPL’s dividend payout ratio (DPR) is 73.65%.

Wall Street Analyst Weigh In

Several brokerages have commented on PPL. Wells Fargo & Company lowered their target price on shares of PPL from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Barclays lowered their price objective on shares of PPL from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. BMO Capital Markets raised their price objective on PPL from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Morgan Stanley reiterated an “overweight” rating on shares of PPL in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. lowered their price target on PPL from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $40.50.

About PPL

PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.

PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.