Rockefeller Capital Management L.P. increased its position in shares of PPL Corp (NYSE:PPL) by 720.9% during the 1st quarter, HoldingsChannel reports. The fund owned 5,139 shares of the utilities provider’s stock after purchasing an additional 4,513 shares during the period. Rockefeller Capital Management L.P.’s holdings in PPL were worth $163,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in PPL. Norges Bank bought a new position in shares of PPL during the fourth quarter valued at $152,444,000. BlackRock Inc. raised its stake in PPL by 5.9% during the fourth quarter. BlackRock Inc. now owns 62,237,939 shares of the utilities provider’s stock worth $1,763,201,000 after buying an additional 3,475,992 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in PPL by 2,749.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,161,551 shares of the utilities provider’s stock worth $76,000 after buying an additional 2,085,687 shares during the last quarter. Morgan Stanley raised its stake in PPL by 96.7% during the third quarter. Morgan Stanley now owns 4,130,706 shares of the utilities provider’s stock worth $120,864,000 after buying an additional 2,030,363 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new position in PPL during the fourth quarter worth $43,537,000. 72.91% of the stock is owned by hedge funds and other institutional investors.
NYSE:PPL opened at $31.11 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $22.49 billion, a price-to-earnings ratio of 12.96 and a beta of 0.52. PPL Corp has a 12 month low of $26.08 and a 12 month high of $32.88.
PPL (NYSE:PPL) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.70 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 14.52% and a net margin of 23.79%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. As a group, research analysts anticipate that PPL Corp will post 2.42 EPS for the current 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 issued a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Friday, June 7th. PPL’s payout ratio is 68.75%.
A number of equities analysts recently weighed in on the stock. Mizuho assumed coverage on shares of PPL in a research note on Monday, June 3rd. They set a “neutral” rating and a $30.00 target price for the company. Zacks Investment Research raised shares of PPL from a “sell” rating to a “hold” rating and set a $32.00 target price for the company in a research note on Thursday, May 30th. UBS Group lowered their target price on shares of PPL from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Raymond James reissued an “average” rating on shares of PPL in a research note on Monday, May 6th. Finally, Royal Bank of Canada downgraded shares of PPL from an “outperform” rating to a “sector perform” rating and lifted 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.90.
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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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