PPL Corp (PPL) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in PPL Corp (NYSE:PPL) by 69.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,928,783 shares of the utilities provider’s stock after purchasing an additional 4,489,564 shares during the period. Bank of New York Mellon Corp’s holdings in PPL were worth $312,017,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Advisors Asset Management Inc. lifted its position in PPL by 2.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 489,778 shares of the utilities provider’s stock worth $13,983,000 after buying an additional 9,641 shares in the last quarter. Andra AP fonden lifted its position in PPL by 40.6% during the 2nd quarter. Andra AP fonden now owns 180,100 shares of the utilities provider’s stock worth $5,142,000 after buying an additional 52,000 shares in the last quarter. Global X Management Co LLC lifted its position in PPL by 0.9% during the 2nd quarter. Global X Management Co LLC now owns 278,966 shares of the utilities provider’s stock worth $7,964,000 after buying an additional 2,457 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its position in PPL by 44.4% during the 2nd quarter. Carnegie Capital Asset Management LLC now owns 21,384 shares of the utilities provider’s stock worth $626,000 after buying an additional 6,580 shares in the last quarter. Finally, Tiedemann Advisors LLC raised its holdings in PPL by 103.8% during the 2nd quarter. Tiedemann Advisors LLC now owns 124,450 shares of the utilities provider’s stock worth $3,603,000 after purchasing an additional 63,377 shares during the last quarter. Institutional investors own 80.63% of the company’s stock.

Shares of PPL stock opened at $30.40 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.58 and a quick ratio of 0.52. The stock has a market capitalization of $20.96 billion, a PE ratio of 13.51, a P/E/G ratio of 2.61 and a beta of 0.51. PPL Corp has a one year low of $25.30 and a one year high of $37.57.

PPL (NYSE:PPL) last announced its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. PPL had a return on equity of 15.30% and a net margin of 18.08%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.75 billion. As a group, sell-side analysts expect that PPL Corp will post 2.34 earnings per share for the current fiscal year.

PPL has been the subject of several recent research reports. Zacks Investment Research cut PPL from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. ValuEngine raised PPL from a “strong sell” rating to a “sell” rating in a report on Saturday, October 6th. Deutsche Bank cut PPL from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Wells Fargo & Co boosted their price objective on PPL from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, September 17th. Finally, TheStreet raised PPL from a “c+” rating to a “b-” rating in a report on Tuesday, August 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $34.18.

About PPL

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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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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