California State Teachers Retirement System raised its position in shares of PPL Co. (NYSE:PPL) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,173,898 shares of the utilities provider’s stock after purchasing an additional 7,032 shares during the period. California State Teachers Retirement System owned 0.17% of PPL worth $36,332,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cutler Capital Management LLC bought a new position in PPL during the third quarter valued at $114,000. Taylor Hoffman Wealth Management bought a new position in shares of PPL in the fourth quarter worth $124,000. Cerebellum GP LLC bought a new position in shares of PPL in the fourth quarter worth $128,000. Crewe Advisors LLC bought a new position in shares of PPL in the fourth quarter worth $133,000. Finally, Calton & Associates Inc. bought a new position in shares of PPL in the fourth quarter worth $156,000. 71.46% of the stock is owned by institutional investors and hedge funds.
In other PPL news, insider Vincent Sorgi sold 10,274 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $31.54, for a total transaction of $324,041.96. Following the sale, the insider now owns 3,406 shares in the company, valued at $107,425.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joanne H. Raphael sold 2,205 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $29.19, for a total value of $64,363.95. Following the sale, the senior vice president now owns 16,799 shares in the company, valued at approximately $490,362.81. The disclosure for this sale can be found here. Insiders sold 52,978 shares of company stock worth $1,652,939 in the last quarter. 0.40% of the stock is currently owned by company insiders.
Shares of PPL stock traded down $0.07 on Friday, reaching $27.93. The company’s stock had a trading volume of 5,651,862 shares, compared to its average volume of 7,158,332. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.49 and a current ratio of 0.57. PPL Co. has a 12-month low of $27.08 and a 12-month high of $40.20. The company has a market capitalization of $19,433.39, a PE ratio of 12.41, a price-to-earnings-growth ratio of 2.02 and a beta of 0.52.
PPL (NYSE:PPL) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.07. PPL had a return on equity of 14.75% and a net margin of 15.15%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business posted $0.60 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. sell-side analysts forecast that PPL Co. will post 2.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 9th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date was Thursday, March 8th. This is an increase from PPL’s previous quarterly dividend of $0.40. PPL’s dividend payout ratio (DPR) is 72.89%.
PPL has been the subject of a number of analyst reports. Macquarie lowered PPL from a “neutral” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Tuesday, December 19th. Zacks Investment Research raised PPL from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Tuesday, December 12th. SunTrust Banks reaffirmed a “buy” rating and issued a $42.00 price target on shares of PPL in a report on Tuesday, December 26th. Royal Bank of Canada raised PPL from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $28.32 to $33.00 in a report on Tuesday, March 6th. Finally, UBS initiated coverage on PPL in a report on Friday, February 2nd. They issued a “buy” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.50.
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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 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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