CIBC Private Wealth Group LLC trimmed its holdings in shares of PPL Corp (NYSE:PPL) by 22.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,086 shares of the utilities provider’s stock after selling 6,343 shares during the period. CIBC Private Wealth Group LLC’s holdings in PPL were worth $630,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of PPL. BlackRock Inc. increased its stake in shares of PPL by 17.2% during the 1st quarter. BlackRock Inc. now owns 60,971,163 shares of the utilities provider’s stock worth $1,724,873,000 after purchasing an additional 8,934,723 shares in the last quarter. Millennium Management LLC grew its stake in PPL by 147.1% in the 1st quarter. Millennium Management LLC now owns 4,989,319 shares of the utilities provider’s stock worth $141,148,000 after acquiring an additional 2,970,302 shares during the period. Ceredex Value Advisors LLC purchased a new stake in PPL in the 1st quarter worth approximately $57,118,000. Thompson Siegel & Walmsley LLC grew its stake in PPL by 41.3% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 5,439,029 shares of the utilities provider’s stock worth $153,870,000 after acquiring an additional 1,589,590 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in PPL by 7.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,852,717 shares of the utilities provider’s stock worth $420,183,000 after acquiring an additional 987,599 shares during the period. 71.32% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on PPL shares. UBS Group lowered their target price on shares of PPL from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, June 8th. ValuEngine cut shares of PPL from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 17th. Zacks Investment Research raised shares of PPL from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Deutsche Bank cut shares of PPL from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, Morgan Stanley lowered their target price on shares of PPL from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $35.22.
PPL stock opened at $29.88 on Friday. The company has a market capitalization of $20.18 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 2.46 and a beta of 0.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.58 and a quick ratio of 0.52. PPL Corp has a one year low of $25.30 and a one year high of $39.90.
PPL (NYSE:PPL) last announced its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. PPL had a net margin of 18.08% and a return on equity of 15.30%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.75 billion. sell-side analysts expect that PPL Corp will post 2.34 EPS for the current year.
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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