Zurcher Kantonalbank Zurich Cantonalbank lowered its position in PPL Corp (NYSE:PPL) by 20.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 160,471 shares of the utilities provider’s stock after selling 42,451 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PPL were worth $4,147,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPL. Infrastructure Capital Advisors LLC bought a new position in shares of PPL in the 1st quarter worth about $25,000. Enterprise Financial Services Corp grew its stake in shares of PPL by 93.9% in the 1st quarter. Enterprise Financial Services Corp now owns 1,047 shares of the utilities provider’s stock worth $26,000 after buying an additional 507 shares during the last quarter. Tompkins Financial Corp grew its stake in shares of PPL by 513.5% in the 1st quarter. Tompkins Financial Corp now owns 1,227 shares of the utilities provider’s stock worth $30,000 after buying an additional 1,027 shares during the last quarter. TRUE Private Wealth Advisors increased its position in PPL by 65.0% during the 1st quarter. TRUE Private Wealth Advisors now owns 1,378 shares of the utilities provider’s stock valued at $34,000 after buying an additional 543 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in PPL during the first quarter valued at $36,000. Institutional investors own 66.56% of the company’s stock.
PPL has been the subject of several analyst reports. Cfra reduced their price target on PPL from $55.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Seaport Global Securities lowered shares of PPL from a “neutral” rating to a “sell” rating and set a $26.50 price objective for the company. in a research note on Tuesday, June 9th. Wells Fargo & Co downgraded shares of PPL from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 8th. Morgan Stanley increased their price target on shares of PPL from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Finally, Royal Bank of Canada boosted their price objective on shares of PPL from $26.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $37.09.
Shares of PPL opened at $26.62 on Friday. The firm has a market capitalization of $20.46 billion, a P/E ratio of 10.95 and a beta of 0.74. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.56 and a quick ratio of 0.50. PPL Corp has a one year low of $18.12 and a one year high of $36.83. The business has a fifty day moving average of $25.87 and a 200 day moving average of $28.39.
PPL (NYSE:PPL) last announced its earnings results on Friday, May 8th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.05). PPL had a return on equity of 14.46% and a net margin of 23.68%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts expect that PPL Corp will post 2.42 EPS for the current fiscal year.
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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