HITE Hedge Asset Management LLC trimmed its position in shares of PPL Co. (NYSE:PPL – Free Report) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 246,807 shares of the utilities provider’s stock after selling 12,530 shares during the period. HITE Hedge Asset Management LLC’s holdings in PPL were worth $6,824,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Coldstream Capital Management Inc. acquired a new position in shares of PPL during the fourth quarter worth approximately $216,000. EverSource Wealth Advisors LLC boosted its position in PPL by 46.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 480 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of PPL by 4.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 198,807 shares of the utilities provider’s stock worth $5,388,000 after purchasing an additional 8,727 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of PPL by 74.4% during the fourth quarter. Hsbc Holdings PLC now owns 2,409,628 shares of the utilities provider’s stock valued at $65,161,000 after purchasing an additional 1,027,720 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of PPL by 32.0% during the fourth quarter. Parallel Advisors LLC now owns 4,673 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 1,132 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.
PPL Trading Down 0.8 %
Shares of PPL opened at $32.58 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.12. PPL Co. has a 1-year low of $22.20 and a 1-year high of $33.01. The stock has a market capitalization of $24.04 billion, a P/E ratio of 31.63, a P/E/G ratio of 2.80 and a beta of 0.82. The business’s 50-day moving average price is $31.08 and its 200 day moving average price is $28.99.
PPL Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.16%. PPL’s payout ratio is currently 100.00%.
Wall Street Analysts Forecast Growth
PPL has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Bank of America increased their price objective on shares of PPL from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Jefferies Financial Group assumed coverage on PPL in a report on Thursday, September 19th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Morgan Stanley increased their price target on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.75.
Check Out Our Latest Stock Report on PPL
PPL 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.
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