B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund decreased its stake in PPL Corporation (NYSE:PPL) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 701,497 shares of the utilities provider’s stock after selling 4,182 shares during the period. PPL Corporation comprises about 3.0% of B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s portfolio, making the stock its 5th largest position. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund owned about 0.10% of PPL Corporation worth $26,229,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in PPL Corporation by 3.0% in the first quarter. Vanguard Group Inc. now owns 48,915,860 shares of the utilities provider’s stock valued at $1,828,963,000 after buying an additional 1,416,622 shares in the last quarter. BlackRock Inc. increased its position in PPL Corporation by 3,377.9% in the first quarter. BlackRock Inc. now owns 47,999,937 shares of the utilities provider’s stock valued at $1,794,717,000 after buying an additional 46,619,804 shares in the last quarter. State Street Corp increased its position in PPL Corporation by 0.7% in the first quarter. State Street Corp now owns 33,942,872 shares of the utilities provider’s stock valued at $1,269,127,000 after buying an additional 233,142 shares in the last quarter. FMR LLC increased its position in PPL Corporation by 11.8% in the first quarter. FMR LLC now owns 17,138,572 shares of the utilities provider’s stock valued at $640,811,000 after buying an additional 1,812,574 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its position in PPL Corporation by 12.3% in the first quarter. Epoch Investment Partners Inc. now owns 13,918,249 shares of the utilities provider’s stock valued at $520,403,000 after buying an additional 1,524,365 shares in the last quarter. 71.03% of the stock is owned by hedge funds and other institutional investors.
PPL Corporation (PPL) traded up 0.81% during trading on Friday, hitting $38.55. The company’s stock had a trading volume of 2,791,627 shares. The firm has a market cap of $26.34 billion, a P/E ratio of 14.44 and a beta of 0.50. The firm has a 50 day moving average of $38.79 and a 200 day moving average of $37.30. PPL Corporation has a 12 month low of $32.08 and a 12 month high of $40.20.
PPL Corporation (NYSE:PPL) last posted its earnings results on Thursday, May 4th. The utilities provider reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.03 billion. PPL Corporation had a return on equity of 16.28% and a net margin of 24.46%. PPL Corporation’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 earnings per share. Equities research analysts predict that PPL Corporation will post $2.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 9th were issued a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Wednesday, June 7th. PPL Corporation’s dividend payout ratio (DPR) is presently 59.18%.
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PPL has been the subject of several recent research reports. UBS AG downgraded PPL Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 29th. Deutsche Bank AG upped their price objective on PPL Corporation from $36.00 to $38.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Barclays PLC reaffirmed an “equal weight” rating and issued a $41.00 price objective (up previously from $38.00) on shares of PPL Corporation in a research note on Sunday, April 23rd. Jefferies Group LLC upped their target price on PPL Corporation from $36.50 to $39.00 and gave the company a “hold” rating in a report on Monday, April 24th. Finally, BidaskClub cut PPL Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $39.10.
In related news, insider Gregory N. Dudkin sold 8,228 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $39.55, for a total value of $325,417.40. Following the transaction, the insider now owns 39,693 shares of the company’s stock, valued at $1,569,858.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.
PPL Corporation Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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