E Fund Management Co. Ltd. Acquires New Shares in PPL Co. (NYSE:PPL)

E Fund Management Co. Ltd. acquired a new stake in PPL Co. (NYSE:PPL) in the 1st quarter, Holdings Channel reports. The firm acquired 1,351 shares of the utilities provider’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPL. Victory Capital Management Inc. increased its position in PPL by 4.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,221,975 shares of the utilities provider’s stock worth $34,459,000 after buying an additional 57,144 shares in the last quarter. California Public Employees Retirement System increased its position in PPL by 4.5% during the fourth quarter. California Public Employees Retirement System now owns 1,855,372 shares of the utilities provider’s stock worth $52,321,000 after buying an additional 79,508 shares in the last quarter. Winslow Evans & Crocker Inc. increased its position in PPL by 193.5% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 4,550 shares of the utilities provider’s stock worth $128,000 after buying an additional 3,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in PPL by 2.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 160,685 shares of the utilities provider’s stock worth $4,531,000 after buying an additional 3,689 shares in the last quarter. Finally, National Asset Management Inc. increased its position in PPL by 8.6% during the fourth quarter. National Asset Management Inc. now owns 19,165 shares of the utilities provider’s stock worth $541,000 after buying an additional 1,512 shares in the last quarter. 66.03% of the stock is owned by hedge funds and other institutional investors.

PPL has been the subject of several recent research reports. Mizuho raised their price target on PPL from $29.50 to $30.00 in a research report on Friday, March 19th. Wolfe Research reaffirmed a “peer perform” rating and issued a $29.00 price objective on shares of PPL in a research report on Monday, March 15th. TheStreet downgraded PPL from a “b” rating to a “c+” rating in a research report on Thursday, May 6th. Tudor Pickering reaffirmed a “buy” rating on shares of PPL in a research report on Wednesday, May 5th. Finally, Wells Fargo & Company lifted their price objective on PPL from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, May 13th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. PPL presently has a consensus rating of “Hold” and a consensus price target of $33.00.

Shares of PPL stock opened at $29.08 on Friday. PPL Co. has a twelve month low of $24.20 and a twelve month high of $30.81. The firm has a market capitalization of $22.37 billion, a PE ratio of -24.44 and a beta of 0.74. The company has a quick ratio of 1.28, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. The firm has a fifty day moving average price of $29.05.

PPL (NYSE:PPL) last issued its earnings results on Thursday, May 6th. The utilities provider reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.43). PPL had a negative net margin of 14.33% and a positive return on equity of 12.02%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the business posted $0.67 EPS. PPL’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts predict that PPL Co. will post 1.93 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Thursday, June 10th will be paid a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date is Wednesday, June 9th. PPL’s dividend payout ratio is presently 69.17%.

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 425,000 electric and 332,000 natural gas customers in Louisville and adjacent areas in Kentucky; 536,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in five counties in southwestern Virginia.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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