Usca Ria LLC lessened its holdings in PPL Corp (NYSE:PPL) by 12.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 111,489 shares of the utilities provider’s stock after selling 16,492 shares during the quarter. Usca Ria LLC’s holdings in PPL were worth $3,262,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PPL. FMR LLC boosted its stake in shares of PPL by 89.2% in the 2nd quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock valued at $1,349,747,000 after purchasing an additional 22,285,268 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of PPL by 69.7% in 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. Luminus Management LLC boosted its stake in shares of PPL by 180.4% in the 2nd quarter. Luminus Management LLC now owns 6,189,367 shares of the utilities provider’s stock valued at $176,707,000 after purchasing an additional 3,981,732 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of PPL by 22.8% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,240,865 shares of the utilities provider’s stock valued at $520,777,000 after purchasing an additional 3,388,148 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of PPL by 54.1% in the 2nd quarter. Millennium Management LLC now owns 7,689,015 shares of the utilities provider’s stock valued at $219,521,000 after purchasing an additional 2,699,696 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on PPL shares. 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 lowered shares of PPL from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Wells Fargo & Co raised their target price on shares of PPL from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. ValuEngine raised shares of PPL from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Finally, Citigroup started coverage on shares of PPL in a research note on Thursday, August 23rd. They issued a “neutral” rating and a $30.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. PPL currently has an average rating of “Hold” and a consensus price target of $34.18.
PPL stock traded up $0.29 during midday trading on Monday, hitting $31.12. 30,159 shares of the stock were exchanged, compared to its average volume of 5,317,381. PPL Corp has a 52 week low of $25.30 and a 52 week high of $37.35. The firm has a market capitalization of $21.57 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 2.62 and a beta of 0.40. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.58 and a quick ratio of 0.51.
PPL (NYSE:PPL) last released its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. PPL had a net margin of 19.17% and a return on equity of 15.23%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm earned $0.56 EPS. PPL’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, analysts predict that PPL Corp will post 2.35 EPS for the current fiscal 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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