WEALTHFRONT Corp decreased its stake in shares of PPL Corp (NYSE:PPL) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,162 shares of the utilities provider’s stock after selling 2,892 shares during the quarter. WEALTHFRONT Corp’s holdings in PPL were worth $2,872,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Gradient Investments LLC increased its holdings in shares of PPL by 6.3% in the 3rd quarter. Gradient Investments LLC now owns 319,916 shares of the utilities provider’s stock valued at $9,361,000 after acquiring an additional 19,050 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of PPL by 732.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,497,500 shares of the utilities provider’s stock valued at $42,754,000 after acquiring an additional 1,317,600 shares during the last quarter. BB&T Corp increased its holdings in shares of PPL by 1.4% in the 3rd quarter. BB&T Corp now owns 172,068 shares of the utilities provider’s stock valued at $5,035,000 after acquiring an additional 2,404 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of PPL by 2.7% in the 2nd quarter. Baird Financial Group Inc. now owns 143,596 shares of the utilities provider’s stock valued at $4,100,000 after acquiring an additional 3,722 shares during the last quarter. Finally, Redpoint Investment Management Pty Ltd increased its holdings in shares of PPL by 8.6% in the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 117,604 shares of the utilities provider’s stock valued at $3,358,000 after acquiring an additional 9,319 shares during the last quarter. Institutional investors own 76.13% of the company’s stock.
A number of research analysts have recently commented on the company. Morgan Stanley increased their price objective on PPL from $29.00 to $30.00 and gave the company a “hold” rating in a report on Tuesday, September 11th. Citigroup assumed coverage on PPL in a report on Thursday, August 23rd. They issued a “neutral” rating and a $30.00 price objective on the stock. TheStreet upgraded PPL from a “c+” rating to a “b-” rating in a report on Tuesday, August 28th. Wells Fargo & Co increased their price objective on PPL from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, September 17th. Finally, Zacks Investment Research raised PPL from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $32.80.
PPL (NYSE:PPL) last announced its earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.98 billion. PPL had a return on equity of 15.23% and a net margin of 19.17%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. As a group, research analysts forecast that PPL Corp will post 2.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 10th will be given a $0.41 dividend. The ex-dividend date is Friday, December 7th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.39%. PPL’s dividend payout ratio (DPR) is presently 72.89%.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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