Gateway Investment Advisers LLC reduced its holdings in shares of PPL Co. (NYSE:PPL – Free Report) by 7.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,485 shares of the utilities provider’s stock after selling 1,393 shares during the quarter. Gateway Investment Advisers LLC’s holdings in PPL were worth $545,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in PPL. Wellington Management Group LLP acquired a new position in PPL in the fourth quarter valued at about $570,789,000. Point72 Asset Management L.P. raised its stake in PPL by 91.3% during the second quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider’s stock worth $160,977,000 after acquiring an additional 2,778,820 shares in the last quarter. Electron Capital Partners LLC raised its stake in PPL by 71.3% during the second quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider’s stock worth $119,061,000 after acquiring an additional 1,792,200 shares in the last quarter. Clearbridge Investments LLC raised its stake in PPL by 50.3% during the first quarter. Clearbridge Investments LLC now owns 4,701,515 shares of the utilities provider’s stock worth $129,433,000 after acquiring an additional 1,572,771 shares in the last quarter. Finally, Bahl & Gaynor Inc. acquired a new position in PPL during the first quarter worth about $31,713,000. 76.99% of the stock is owned by institutional investors.
PPL Stock Up 0.8 %
Shares of NYSE:PPL opened at $31.71 on Monday. The company has a market capitalization of $23.39 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 2.72 and a beta of 0.82. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91. The business has a fifty day moving average price of $31.88 and a two-hundred day moving average price of $29.49. PPL Co. has a 1 year low of $23.36 and a 1 year high of $33.38.
PPL Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Tuesday, September 10th. PPL’s payout ratio is presently 100.00%.
Wall Street Analysts Forecast Growth
PPL has been the subject of several research analyst reports. Morgan Stanley boosted their target price on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company boosted their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Bank of America upped their target price on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group initiated coverage on PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.56.
Get Our Latest Stock Report on PPL
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.
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