American Asset Management Inc. raised its position in PPL Corp (NYSE:PPL) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,050 shares of the utilities provider’s stock after buying an additional 1,575 shares during the quarter. American Asset Management Inc.’s holdings in PPL were worth $636,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PPL. Rehmann Capital Advisory Group grew its holdings in shares of PPL by 2,949.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 41,344 shares of the utilities provider’s stock worth $1,413,000 after purchasing an additional 39,988 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of PPL by 9.7% during the 3rd quarter. Mackenzie Financial Corp now owns 108,836 shares of the utilities provider’s stock worth $3,185,000 after purchasing an additional 9,606 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of PPL by 47.1% during the 4th 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. Verition Fund Management LLC acquired a new stake in shares of PPL during the 3rd quarter worth $630,000. Finally, Schnieders Capital Management LLC grew its holdings in shares of PPL by 35.6% during the 4th 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. 74.71% of the stock is currently owned by hedge funds and other institutional investors.
PPL has been the subject of several recent analyst reports. Zacks Investment Research downgraded PPL from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Royal Bank of Canada downgraded PPL from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $32.00 to $33.00 in a research report on Friday, March 8th. They noted that the move was a valuation call. SunTrust Banks restated a “buy” rating and set a $35.00 price objective on shares of PPL in a research report on Wednesday, February 13th. Evercore ISI downgraded PPL from an “outperform” rating to an “in-line” rating in a research report on Thursday, February 7th. Finally, Bank of America downgraded PPL from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $29.00 to $28.00 in a research report on Monday, January 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.33.
PPL (NYSE:PPL) last posted its earnings results on Thursday, February 14th. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.88 billion. PPL had a return on equity of 14.91% and a net margin of 23.47%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. As a group, equities research analysts anticipate that PPL Corp will post 2.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.4125 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from PPL’s previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a yield of 5.18%. PPL’s dividend payout ratio (DPR) is currently 68.75%.
In other PPL news, Chairman Paul W. Thompson sold 5,637 shares of the stock in a transaction dated Wednesday, January 23rd. The stock was sold at an average price of $29.91, for a total value of $168,602.67. Following the completion of the transaction, the chairman now directly owns 15,897 shares in the company, valued at $475,479.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William H. Spence sold 225,365 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $32.50, for a total value of $7,324,362.50. The disclosure for this sale can be found here. Insiders sold 247,851 shares of company stock valued at $8,007,083 over the last quarter. Corporate insiders own 0.38% of the company’s stock.
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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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