Eads & Heald Wealth Management lessened its holdings in PPL Corp (NYSE:PPL) by 34.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,437 shares of the utilities provider’s stock after selling 4,480 shares during the period. Eads & Heald Wealth Management’s holdings in PPL were worth $218,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of PPL. Norges Bank acquired a new stake in shares of PPL in the 4th quarter worth about $207,423,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of 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 acquiring an additional 4,551,569 shares during the last quarter. Bank of New York Mellon Corp increased its stake in PPL by 14.8% in the 1st quarter. Bank of New York Mellon Corp now owns 26,799,645 shares of the utilities provider’s stock valued at $661,415,000 after buying an additional 3,456,351 shares during the last quarter. State Street Corp increased its stake in 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 buying an additional 2,631,997 shares during the last quarter. Finally, Prudential PLC purchased a new stake in PPL in the 1st quarter valued at about $59,350,000. Institutional investors own 66.56% of the company’s stock.
PPL has been the subject of several analyst reports. 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 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. ValuEngine lowered shares of PPL from a “hold” rating to a “sell” rating in a research note on Friday, April 3rd. Bank of America increased their price objective on shares of PPL from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Finally, Royal Bank of Canada increased 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. PPL has an average rating of “Hold” and an average price target of $37.09.
PPL (NYSE:PPL) last released its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.05). The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.18 billion. PPL had a return on equity of 14.46% and a net margin of 23.68%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.70 earnings per share. Research analysts forecast 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.
See Also: How to calculate compound interest
Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.