Choreo LLC Has $990,000 Stake in PPL Co. (NYSE:PPL)

Choreo LLC boosted its position in PPL Co. (NYSE:PPL) by 18.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,143 shares of the utilities provider’s stock after purchasing an additional 5,553 shares during the period. Choreo LLC’s holdings in PPL were worth $990,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in PPL during the 4th quarter worth approximately $339,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of PPL by 5.4% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 8,192 shares of the utilities provider’s stock valued at $222,000 after acquiring an additional 421 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of PPL by 18.9% during the fourth quarter. QRG Capital Management Inc. now owns 33,549 shares of the utilities provider’s stock worth $909,000 after purchasing an additional 5,334 shares during the period. Boston Partners bought a new stake in shares of PPL in the fourth quarter worth $3,777,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in PPL by 3.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 741,141 shares of the utilities provider’s stock valued at $20,500,000 after purchasing an additional 26,228 shares during the period. 76.99% of the stock is currently owned by institutional investors.

PPL Stock Performance

Shares of PPL stock opened at $31.96 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.12. PPL Co. has a 52 week low of $22.20 and a 52 week high of $32.54. The firm has a 50 day moving average of $30.35 and a 200-day moving average of $28.63. The company has a market cap of $23.58 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82.

PPL (NYSE:PPL) last posted its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. PPL had a net margin of 10.17% and a return on equity of 9.26%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. On average, equities analysts forecast that PPL Co. will post 1.72 earnings per share for the current year.

PPL Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Tuesday, September 10th. PPL’s dividend payout ratio (DPR) is currently 100.00%.

Analysts Set New Price Targets

Several research analysts have commented on PPL shares. Bank of America lifted their target price on PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company lifted their price objective on PPL from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Morgan Stanley increased their target price on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.18.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.