Summit Trail Advisors LLC raised its holdings in PPL Corp (NYSE:PPL) by 19.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,715 shares of the utilities provider’s stock after purchasing an additional 2,060 shares during the quarter. Summit Trail Advisors LLC’s holdings in PPL were worth $179,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. OLD Republic International Corp raised its position in PPL by 12.0% in the first quarter. OLD Republic International Corp now owns 1,188,000 shares of the utilities provider’s stock valued at $33,609,000 after purchasing an additional 127,000 shares during the period. M Holdings Securities Inc. purchased a new stake in PPL in the first quarter valued at $353,000. McKinley Carter Wealth Services Inc. purchased a new stake in PPL in the first quarter valued at $120,000. Legal & General Group Plc raised its position in PPL by 5.7% in the first quarter. Legal & General Group Plc now owns 6,119,952 shares of the utilities provider’s stock valued at $173,159,000 after purchasing an additional 327,814 shares during the period. Finally, Laurel Wealth Advisors Inc. raised its position in PPL by 14.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 18,595 shares of the utilities provider’s stock valued at $526,000 after purchasing an additional 2,280 shares during the period. Institutional investors own 71.18% of the company’s stock.
PPL opened at $28.68 on Wednesday, according to MarketBeat.com. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.81. PPL Corp has a 12 month low of $25.30 and a 12 month high of $39.90. The firm has a market cap of $20.13 billion, a P/E ratio of 12.75, a P/E/G ratio of 2.09 and a beta of 0.52.
PPL (NYSE:PPL) last announced its earnings results on Thursday, May 3rd. The utilities provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.08. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.09 billion. PPL had a return on equity of 15.24% and a net margin of 15.44%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. research analysts forecast that PPL Corp will post 2.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 8th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, June 7th. This represents a $1.64 annualized dividend and a dividend yield of 5.72%. PPL’s dividend payout ratio is presently 72.89%.
PPL has been the topic of a number of research analyst reports. Royal Bank of Canada upgraded PPL from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $28.32 to $33.00 in a research report on Tuesday, March 6th. Zacks Investment Research raised PPL from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. ValuEngine cut PPL from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Evercore ISI raised PPL from an “in-line” rating to an “outperform” rating in a research note on Wednesday, May 9th. Finally, UBS Group dropped their price objective on PPL from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, June 8th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $35.95.
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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