Bank of Montreal Can lifted its position in shares of PPL Corp (NYSE:PPL) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,963,388 shares of the utilities provider’s stock after buying an additional 134,814 shares during the quarter. Bank of Montreal Can owned about 0.39% of PPL worth $72,308,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in PPL by 2.6% during the 1st quarter. BlackRock Inc. now owns 59,779,931 shares of the utilities provider’s stock worth $1,475,368,000 after buying an additional 1,540,336 shares during the last quarter. State Street Corp boosted its stake in shares of PPL by 6.5% in the 1st quarter. State Street Corp now owns 42,981,778 shares of the utilities provider’s stock valued at $1,077,234,000 after purchasing an additional 2,631,997 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of PPL by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 27,499,707 shares of the utilities provider’s stock valued at $710,592,000 after purchasing an additional 700,062 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in PPL by 27.4% in the 1st 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 buying an additional 4,551,569 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of PPL by 6.1% in the 1st quarter. Geode Capital Management LLC now owns 12,986,267 shares of the utilities provider’s stock worth $321,135,000 after purchasing an additional 741,323 shares during the period. 66.64% of the stock is owned by institutional investors.
NYSE PPL traded down $0.36 during trading hours on Tuesday, hitting $27.27. 49,570 shares of the company’s stock were exchanged, compared to its average volume of 4,945,647. The business’s 50 day moving average is $27.01 and its 200-day moving average is $27.10. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.57 and a current ratio of 0.63. PPL Corp has a 12-month low of $18.12 and a 12-month high of $36.83. The firm has a market capitalization of $21.31 billion, a P/E ratio of 12.01 and a beta of 0.73.
PPL (NYSE:PPL) last issued its earnings results on Monday, August 10th. The utilities provider reported $0.55 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. PPL had a return on equity of 14.20% and a net margin of 24.52%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities research analysts anticipate that PPL Corp will post 2.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be given a dividend of $0.415 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.66 dividend on an annualized basis and a yield of 6.09%. PPL’s dividend payout ratio (DPR) is presently 67.76%.
A number of analysts have commented on PPL shares. Wells Fargo & Co lowered shares of PPL from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 8th. Seaport Global Securities upgraded PPL from a “sell” rating to a “neutral” rating in a research report on Tuesday, August 11th. Citigroup boosted their price objective on PPL from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Cfra cut their target price on PPL from $55.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Royal Bank of Canada lifted their target price on shares of PPL from $26.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $35.69.
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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