Cambridge Investment Research Advisors Inc. grew its position in shares of PPL Corp (NYSE:PPL) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,103 shares of the utilities provider’s stock after buying an additional 3,480 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in PPL were worth $3,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in PPL. Norges Bank acquired a new position in PPL in the fourth quarter worth approximately $207,423,000. Caisse DE Depot ET Placement DU Quebec grew its position in PPL by 27.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 21,135,540 shares of the utilities provider’s stock worth $521,625,000 after acquiring an additional 4,551,569 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of PPL by 14.8% during the 1st quarter. Bank of New York Mellon Corp now owns 26,799,645 shares of the utilities provider’s stock worth $661,415,000 after purchasing an additional 3,456,351 shares during the last quarter. State Street Corp increased its stake in shares of PPL by 6.5% during the 1st quarter. State Street Corp now owns 42,981,778 shares of the utilities provider’s stock worth $1,077,234,000 after purchasing an additional 2,631,997 shares during the last quarter. Finally, Prudential PLC bought a new position in shares of PPL during the 1st quarter valued at $59,350,000. 66.56% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on PPL shares. Seaport Global Securities cut shares of PPL from a “neutral” rating to a “sell” rating and set a $26.50 price objective for the company. in a report on Tuesday, June 9th. Royal Bank of Canada upped their price target on PPL from $26.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Bank of America raised their price objective on PPL from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Cfra reduced their target price on PPL from $55.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Finally, ValuEngine cut PPL from a “hold” rating to a “sell” rating in a research report on Friday, April 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. PPL currently has an average rating of “Hold” and a consensus price target of $37.09.
Shares of PPL stock opened at $26.62 on Friday. PPL Corp has a 1 year low of $18.12 and a 1 year high of $36.83. The company’s fifty day simple moving average is $25.87 and its 200-day simple moving average is $28.39. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 10.87 and a beta of 0.74. The company has a current ratio of 0.56, a quick ratio of 0.50 and a debt-to-equity ratio of 1.56.
PPL (NYSE:PPL) last issued its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.05). PPL had a net margin of 23.68% and a return on equity of 14.46%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the company earned $0.70 earnings per share. PPL’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts forecast that PPL Corp will post 2.42 earnings per share for the current fiscal year.
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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