Gateway Investment Advisers LLC decreased its position in shares of PPL Corp (NYSE:PPL) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,739 shares of the utilities provider’s stock after selling 911 shares during the quarter. Gateway Investment Advisers LLC’s holdings in PPL were worth $944,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of PPL by 58.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 17,289,874 shares of the utilities provider’s stock worth $505,902,000 after purchasing an additional 6,361,091 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of PPL by 23.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,502,776 shares of the utilities provider’s stock worth $43,961,000 after purchasing an additional 290,237 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PPL during the 3rd quarter worth $440,000. Pacer Advisors Inc. lifted its stake in shares of PPL by 14.1% during the 3rd quarter. Pacer Advisors Inc. now owns 36,192 shares of the utilities provider’s stock worth $1,059,000 after purchasing an additional 4,482 shares during the last quarter. Finally, Man Group plc lifted its stake in shares of PPL by 127.6% during the 3rd quarter. Man Group plc now owns 133,093 shares of the utilities provider’s stock worth $3,895,000 after purchasing an additional 74,613 shares during the last quarter. 74.70% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman William H. Spence sold 225,365 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $32.50, for a total value of $7,324,362.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Paul W. Thompson sold 7,419 shares of the firm’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $31.28, for a total value of $232,066.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 247,851 shares of company stock valued at $8,007,083. 0.34% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut PPL from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Desjardins restated an “average” rating and set a $52.00 price objective on shares of PPL in a research note on Monday, January 7th. Royal Bank of Canada cut PPL from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $32.00 to $33.00 in a research note on Friday, March 8th. They noted that the move was a valuation call. Evercore ISI cut PPL from an “outperform” rating to an “in-line” rating in a research note on Thursday, February 7th. Finally, SunTrust Banks restated a “buy” rating and set a $35.00 price objective on shares of PPL in a research note on Wednesday, February 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $34.33.
PPL stock opened at $31.32 on Wednesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.53 and a quick ratio of 0.47. PPL Corp has a one year low of $25.30 and a one year high of $32.88. The stock has a market capitalization of $22.99 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.62 and a beta of 0.54.
PPL (NYSE:PPL) last released its quarterly earnings results on Thursday, February 14th. The utilities provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. PPL had a return on equity of 14.91% and a net margin of 23.47%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the business posted $0.55 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. As a group, equities analysts predict that PPL Corp will post 2.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.4125 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from PPL’s previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a yield of 5.27%. PPL’s dividend payout ratio (DPR) is 68.75%.
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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 through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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