Raymond James & Associates Boosts Position in PPL Corp (PPL)

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Raymond James & Associates increased its holdings in shares of PPL Corp (NYSE:PPL) by 5.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,108,919 shares of the utilities provider’s stock after purchasing an additional 168,688 shares during the quarter. Raymond James & Associates owned 0.44% of PPL worth $88,760,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPL. Archford Capital Strategies LLC increased its stake in PPL by 444.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 3,868 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 3,158 shares in the last quarter. Live Your Vision LLC increased its stake in PPL by 75.3% during the 2nd quarter. Live Your Vision LLC now owns 4,190 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 1,800 shares in the last quarter. McKinley Carter Wealth Services Inc. bought a new stake in PPL during the 1st quarter worth approximately $120,000. Squar Milner Financial Services LLC bought a new stake in PPL during the 2nd quarter worth approximately $125,000. Finally, Smithfield Trust Co. increased its stake in PPL by 131.1% during the 1st quarter. Smithfield Trust Co. now owns 4,958 shares of the utilities provider’s stock worth $141,000 after purchasing an additional 2,813 shares in the last quarter. 80.19% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on PPL. TheStreet raised PPL from a “c+” rating to a “b-” rating in a research note on Tuesday, August 28th. Morgan Stanley increased their target price on PPL from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Citigroup began coverage on PPL in a research note on Thursday, August 23rd. They set a “neutral” rating and a $30.00 target price for the company. Zacks Investment Research cut PPL from a “hold” rating to a “sell” rating in a research note on Tuesday, June 5th. Finally, Deutsche Bank downgraded PPL from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. PPL has a consensus rating of “Hold” and an average target price of $34.70.

NYSE:PPL opened at $30.92 on Friday. PPL Corp has a twelve month low of $25.30 and a twelve month high of $39.90. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.58 and a quick ratio of 0.52. The company has a market cap of $21.42 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 2.61 and a beta of 0.50.

PPL (NYSE:PPL) last released its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. PPL had a return on equity of 15.30% and a net margin of 18.08%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.75 billion. sell-side analysts forecast that PPL Corp will post 2.34 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend is Friday, September 7th. PPL’s payout ratio is presently 72.89%.

About PPL

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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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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