TD Asset Management Inc lessened its stake in PPL Co. (NYSE:PPL – Free Report) by 32.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245,805 shares of the utilities provider’s stock after selling 117,966 shares during the period. TD Asset Management Inc’s holdings in PPL were worth $6,504,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Aspire Private Capital LLC bought a new stake in PPL in the 1st quarter worth approximately $22,069,567,000. Coppell Advisory Solutions Corp. bought a new stake in PPL in the 4th quarter worth approximately $25,000. Worth Asset Management LLC bought a new stake in shares of PPL during the 1st quarter valued at $27,000. Compass Wealth Management LLC bought a new stake in shares of PPL during the 4th quarter valued at $29,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of PPL by 83.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,377 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 625 shares during the period. Institutional investors own 73.09% of the company’s stock.
Analyst Upgrades and Downgrades
PPL has been the subject of a number of recent research reports. Barclays cut their price objective on shares of PPL from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 24th. StockNews.com raised shares of PPL from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. UBS Group downgraded shares of PPL from a “buy” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $25.00 in a research report on Wednesday, October 4th. Citigroup assumed coverage on shares of PPL in a research note on Thursday, October 5th. They set a “neutral” rating and a $42.00 target price on the stock. Finally, Guggenheim lowered their target price on shares of PPL from $31.00 to $27.00 in a research note on Monday, October 9th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PPL currently has an average rating of “Hold” and an average target price of $29.88.
PPL Stock Up 0.3 %
Shares of PPL stock opened at $26.17 on Tuesday. The stock has a market cap of $19.29 billion, a P/E ratio of 23.58, a PEG ratio of 2.22 and a beta of 0.83. PPL Co. has a 52 week low of $22.20 and a 52 week high of $31.74. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 1.03. The company’s fifty day simple moving average is $24.61 and its two-hundred day simple moving average is $25.83.
PPL Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, December 7th. PPL’s payout ratio is currently 86.49%.
PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.5 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.
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