Barclays PLC lifted its position in shares of PPL Co. (NYSE:PPL) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,474,950 shares of the utilities provider’s stock after buying an additional 86,416 shares during the period. Barclays PLC owned approximately 0.19% of PPL worth $41,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of PPL by 0.7% during the 2nd quarter. State Street Corp now owns 41,017,118 shares of the utilities provider’s stock worth $1,163,763,000 after buying an additional 303,021 shares during the last quarter. FMR LLC increased its holdings in shares of PPL by 21.5% during the 2nd quarter. FMR LLC now owns 26,656,680 shares of the utilities provider’s stock worth $745,587,000 after buying an additional 4,713,861 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of PPL by 4.6% during the 2nd quarter. Franklin Resources Inc. now owns 8,927,504 shares of the utilities provider’s stock worth $249,703,000 after buying an additional 391,467 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of PPL by 0.6% during the 2nd quarter. Federated Hermes Inc. now owns 8,663,473 shares of the utilities provider’s stock worth $242,317,000 after buying an additional 50,671 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in PPL by 49.0% in the 2nd quarter. First Trust Advisors LP now owns 4,931,795 shares of the utilities provider’s stock valued at $137,942,000 after purchasing an additional 1,621,682 shares during the last quarter. Institutional investors and hedge funds own 63.50% of the company’s stock.
Several analysts recently weighed in on PPL shares. Morgan Stanley lifted their target price on shares of PPL from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Tuesday, December 21st. TheStreet upgraded shares of PPL from a “c+” rating to a “b-” rating in a report on Wednesday, October 27th. Finally, Zacks Investment Research downgraded shares of PPL from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a report on Friday, December 24th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.56.
PPL (NYSE:PPL) last issued its quarterly earnings results on Thursday, November 4th. The utilities provider reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.02). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.59 billion. PPL had a negative net margin of 21.26% and a positive return on equity of 8.07%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. Analysts expect that PPL Co. will post 1.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 3rd. Stockholders of record on Friday, December 10th were given a dividend of $0.415 per share. The ex-dividend date was Thursday, December 9th. This represents a $1.66 annualized dividend and a dividend yield of 5.54%. PPL’s dividend payout ratio (DPR) is currently -97.08%.
PPL Corp. engages in the generation, transmission and distribution of electricity. It operates through the following segments: U.K. Regulated, Kentucky Regulated and Pennsylvania Regulated. The U.K. Regulated segment includes regulated electricity distribution operations of Western Power Distribution.
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