Toronto Dominion Bank raised its stake in shares of PPL Corp (NYSE:PPL) by 18.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 468,404 shares of the utilities provider’s stock after purchasing an additional 71,424 shares during the period. Toronto Dominion Bank’s holdings in PPL were worth $14,863,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of PPL. Liberty Wealth Management LLC acquired a new stake in PPL during the fourth quarter worth about $27,000. Private Capital Group LLC increased its position in PPL by 68.6% during the first quarter. Private Capital Group LLC now owns 1,111 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 452 shares during the last quarter. Sandy Spring Bank increased its position in PPL by 109.1% during the fourth quarter. Sandy Spring Bank now owns 1,171 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 611 shares during the last quarter. Truvestments Capital LLC acquired a new stake in PPL during the first quarter worth about $44,000. Finally, Tompkins Financial Corp acquired a new stake in PPL during the first quarter worth about $41,000. 74.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of PPL traded up $0.04 during trading on Friday, reaching $29.97. 84,276 shares of the company traded hands, compared to its average volume of 4,210,893. PPL Corp has a twelve month low of $25.30 and a twelve month high of $32.88. The stock has a market cap of $22.12 billion, a PE ratio of 12.49, a P/E/G ratio of 2.53 and a beta of 0.52. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.60 and a quick ratio of 0.53.
PPL (NYSE:PPL) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). PPL had a net margin of 23.79% and a return on equity of 14.52%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. PPL’s revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts expect that PPL Corp will post 2.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be given a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date of this dividend is Friday, June 7th. PPL’s dividend payout ratio is presently 68.75%.
In other PPL news, Chairman William H. Spence sold 225,365 shares of PPL stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $32.50, for a total transaction of $7,324,362.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on PPL shares. Zacks Investment Research cut shares of PPL from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Raymond James restated an “average” rating on shares of PPL in a research report on Monday, May 6th. Royal Bank of Canada cut shares of PPL from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $32.00 to $33.00 in a research report on Friday, March 8th. They noted that the move was a valuation call. SunTrust Banks restated a “buy” rating and set a $35.00 price objective on shares of PPL in a research report on Wednesday, February 13th. Finally, Evercore ISI cut shares of PPL from an “outperform” rating to an “in-line” rating in a research report on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.56.
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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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