MetLife Investment Advisors LLC reduced its position in shares of PPL Corp (NYSE:PPL) by 1.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 205,786 shares of the utilities provider’s stock after selling 3,080 shares during the period. MetLife Investment Advisors LLC’s holdings in PPL were worth $5,875,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of PPL by 17.2% during the 1st quarter. BlackRock Inc. now owns 60,971,163 shares of the utilities provider’s stock worth $1,724,873,000 after acquiring an additional 8,934,723 shares in the last quarter. FMR LLC boosted its stake in shares of PPL by 89.2% during the 2nd quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock worth $1,349,747,000 after acquiring an additional 22,285,268 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of PPL by 22.8% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,240,865 shares of the utilities provider’s stock worth $520,777,000 after acquiring an additional 3,388,148 shares in the last quarter. Federated Investors Inc. PA raised its position in shares of PPL by 0.7% during the 2nd quarter. Federated Investors Inc. PA now owns 14,672,337 shares of the utilities provider’s stock worth $418,896,000 after purchasing an additional 102,265 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of PPL by 69.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,928,783 shares of the utilities provider’s stock worth $312,017,000 after purchasing an additional 4,489,564 shares during the last quarter. 80.18% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of PPL from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. TheStreet upgraded shares of PPL from a “c+” rating to a “b-” rating in a research report on Tuesday, August 28th. Zacks Investment Research upgraded shares of PPL from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Citigroup assumed coverage on shares of PPL in a research report on Thursday, August 23rd. They set a “neutral” rating and a $30.00 price target for the company. Finally, UBS Group reduced their price target on shares of PPL from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, June 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.30.
PPL opened at $30.16 on Monday. PPL Corp has a twelve month low of $25.30 and a twelve month high of $39.41. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.58 and a quick ratio of 0.52. The stock has a market cap of $21.09 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.57 and a beta of 0.50.
PPL (NYSE:PPL) last released its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.75 billion. PPL had a net margin of 18.08% and a return on equity of 15.30%. sell-side analysts expect that PPL Corp will post 2.34 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 10th will be issued a $0.41 dividend. The ex-dividend date is Friday, September 7th. This represents a $1.64 dividend on an annualized basis and a yield of 5.44%. PPL’s payout ratio is 72.89%.
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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