Oregon Public Employees Retirement Fund cut its stake in PPL Corp (NYSE:PPL) by 1.0% in the first quarter, Holdings Channel reports. The fund owned 75,533 shares of the utilities provider’s stock after selling 766 shares during the period. Oregon Public Employees Retirement Fund’s holdings in PPL were worth $2,397,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Liberty Wealth Management LLC bought a new stake in shares of PPL in the 4th quarter valued at about $27,000. Sandy Spring Bank increased its stake in PPL by 109.1% during the 4th quarter. Sandy Spring Bank now owns 1,171 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 611 shares in the last quarter. Private Capital Group LLC increased its stake in PPL by 68.6% during the 1st 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 in the last quarter. Berman Capital Advisors LLC bought a new stake in PPL during the 4th quarter worth approximately $39,000. Finally, Tompkins Financial Corp bought a new stake in PPL during the 1st quarter worth approximately $41,000. 72.43% of the stock is owned by institutional investors.
PPL has been the subject of a number of research reports. Zacks Investment Research cut PPL from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Raymond James reissued an “average” rating on shares of PPL in a research note on Monday, May 6th. Royal Bank of Canada cut PPL from an “outperform” rating to a “sector perform” rating and increased their target price 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. SunTrust Banks reaffirmed a “buy” rating and set a $35.00 price target on shares of PPL in a research report on Wednesday, February 13th. Finally, Evercore ISI downgraded PPL from an “outperform” rating to an “in-line” rating in a research report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $34.56.
NYSE PPL opened at $30.36 on Friday. The company has a market capitalization of $21.81 billion, a PE ratio of 12.65, a P/E/G ratio of 2.50 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 Corp has a 12 month low of $25.30 and a 12 month high of $32.88.
PPL (NYSE:PPL) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.70 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.03). The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.19 billion. PPL had a net margin of 23.79% and a return on equity of 14.52%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. On average, sell-side analysts forecast that PPL Corp will post 2.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be issued a $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Friday, June 7th. PPL’s payout ratio is presently 68.75%.
In other news, Chairman William H. Spence sold 225,365 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $32.50, for a total value of $7,324,362.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.
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PPL Company Profile
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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