Teacher Retirement System of Texas boosted its position in PPL Corp (NYSE:PPL) by 384.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,401 shares of the utilities provider’s stock after acquiring an additional 36,820 shares during the quarter. Teacher Retirement System of Texas’ holdings in PPL were worth $1,473,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. raised its holdings in PPL by 20.8% in the first quarter. Riggs Asset Managment Co. Inc. now owns 3,712 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 638 shares in the last quarter. Raymond James Trust N.A. raised its holdings in PPL by 5.6% during the first quarter. Raymond James Trust N.A. now owns 58,429 shares of the utilities provider’s stock worth $1,855,000 after purchasing an additional 3,090 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in PPL by 47.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,250,000 shares of the utilities provider’s stock worth $35,413,000 after purchasing an additional 400,000 shares in the last quarter. 6 Meridian acquired a new stake in PPL during the first quarter worth approximately $505,000. Finally, Schnieders Capital Management LLC raised its holdings in PPL by 35.6% during the fourth quarter. Schnieders Capital Management LLC now owns 58,989 shares of the utilities provider’s stock worth $1,671,000 after purchasing an additional 15,475 shares in the last quarter. 74.95% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on PPL. Royal Bank of Canada cut shares of PPL from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $32.00 to $33.00 in a report on Friday, March 8th. They noted that the move was a valuation call. Zacks Investment Research cut shares of PPL from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. SunTrust Banks reissued a “buy” rating and set a $35.00 price objective on shares of PPL in a report on Wednesday, February 13th. Raymond James reissued an “average” rating on shares of PPL in a report on Monday, May 6th. Finally, UBS Group cut their price objective on shares of PPL from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. PPL currently has an average rating of “Hold” and an average target price of $34.56.
Shares of PPL stock traded up $0.58 during trading on Tuesday, reaching $30.27. The company’s stock had a trading volume of 46,882 shares, compared to its average volume of 4,609,497. The stock has a market capitalization of $21.42 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.46 and a beta of 0.52. PPL Corp has a fifty-two week low of $25.30 and a fifty-two week high of $32.88. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.60 and a quick ratio of 0.53.
PPL (NYSE:PPL) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.19 billion. PPL had a net margin of 23.79% and a return on equity of 14.52%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. Analysts anticipate that PPL Corp will post 2.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be issued a $0.4125 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.45%. PPL’s payout ratio is 68.75%.
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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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