Swiss National Bank trimmed its holdings in shares of PPL Corp (NYSE:PPL) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,605,247 shares of the utilities provider’s stock after selling 60,300 shares during the quarter. Swiss National Bank owned 0.36% of PPL worth $80,789,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of PPL. Federated Investors Inc. PA grew its position in PPL by 5.3% in the 1st quarter. Federated Investors Inc. PA now owns 12,830,507 shares of the utilities provider’s stock valued at $407,240,000 after acquiring an additional 647,901 shares in the last quarter. Geode Capital Management LLC grew its position in PPL by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 10,366,038 shares of the utilities provider’s stock valued at $293,399,000 after acquiring an additional 1,129,588 shares in the last quarter. Northern Trust Corp grew its position in PPL by 2.1% in the 1st quarter. Northern Trust Corp now owns 8,412,681 shares of the utilities provider’s stock valued at $267,019,000 after acquiring an additional 169,623 shares in the last quarter. Janus Henderson Group PLC grew its position in PPL by 17.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,518,786 shares of the utilities provider’s stock valued at $175,178,000 after acquiring an additional 808,535 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in PPL by 20.4% in the 1st quarter. California Public Employees Retirement System now owns 4,330,832 shares of the utilities provider’s stock valued at $137,461,000 after acquiring an additional 734,286 shares in the last quarter. 72.84% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on PPL shares. Raymond James reaffirmed an “average” rating on shares of PPL in a research report on Monday, May 6th. UBS Group dropped their target price on PPL from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Zacks Investment Research raised PPL from a “sell” rating to a “hold” rating and set a $32.00 target price for the company in a research report on Monday, July 22nd. Evercore ISI set a $31.00 target price on PPL and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, GMP Securities reaffirmed an “average” rating and issued a $59.00 target price on shares of PPL in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $35.75.
Shares of PPL stock traded up $0.19 on Friday, reaching $29.41. 4,819,300 shares of the company were exchanged, compared to its average volume of 4,192,462. PPL Corp has a 1-year low of $27.31 and a 1-year high of $32.88. The company has a market cap of $21.10 billion, a P/E ratio of 12.25 and a beta of 0.51. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.55 and a quick ratio of 0.48. The stock’s 50 day moving average price is $30.15 and its 200-day moving average price is $31.01.
PPL (NYSE:PPL) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. PPL had a return on equity of 14.57% and a net margin of 22.97%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, research analysts predict that PPL Corp will post 2.42 earnings per share 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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