US Bancorp DE cut its holdings in shares of PPL Co. (NYSE:PPL – Free Report) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,820 shares of the utilities provider’s stock after selling 2,098 shares during the period. US Bancorp DE’s holdings in PPL were worth $1,946,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its stake in PPL by 13,891.2% during the 3rd quarter. Lazard Asset Management LLC now owns 11,724,495 shares of the utilities provider’s stock valued at $276,229,000 after acquiring an additional 11,640,696 shares during the period. Norges Bank purchased a new position in shares of PPL during the fourth quarter valued at approximately $115,605,000. Clearbridge Investments LLC raised its holdings in shares of PPL by 239.8% during the fourth quarter. Clearbridge Investments LLC now owns 3,128,744 shares of the utilities provider’s stock valued at $84,789,000 after purchasing an additional 2,208,081 shares during the last quarter. California Public Employees Retirement System lifted its position in PPL by 83.5% during the fourth quarter. California Public Employees Retirement System now owns 4,269,687 shares of the utilities provider’s stock valued at $115,709,000 after purchasing an additional 1,943,282 shares during the period. Finally, FMR LLC boosted its holdings in PPL by 13.4% in the third quarter. FMR LLC now owns 14,390,818 shares of the utilities provider’s stock worth $339,048,000 after purchasing an additional 1,695,726 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors.
PPL Stock Up 2.7 %
PPL opened at $29.33 on Friday. PPL Co. has a fifty-two week low of $22.20 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.08 and a current ratio of 1.28. The stock has a market cap of $21.64 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 2.45 and a beta of 0.81. The firm’s fifty day moving average is $27.92 and its 200 day moving average is $27.02.
PPL (NYSE:PPL – Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. PPL had a return on equity of 8.80% and a net margin of 9.29%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The business’s revenue was down 4.6% on a year-over-year basis. On average, sell-side analysts forecast that PPL Co. will post 1.71 earnings per share for the current fiscal year.
PPL Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, June 10th. PPL’s dividend payout ratio (DPR) is currently 100.00%.
Analyst Ratings Changes
PPL has been the subject of a number of research reports. StockNews.com upgraded shares of PPL from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Argus raised shares of PPL from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Friday, March 8th. Mizuho raised their price objective on shares of PPL from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. TheStreet cut shares of PPL from a “b-” rating to a “c” rating in a report on Friday, February 16th. Finally, Royal Bank of Canada lifted their price target on shares of PPL from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, PPL has an average rating of “Moderate Buy” and an average target price of $32.45.
Get Our Latest Analysis on PPL
PPL Company Profile
PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.
See Also
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Source: defenseworld.net
