Boston Partners Takes Position in PPL Corp (PPL)
Boston Partners purchased a new position in PPL Corp (NYSE:PPL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 35,130 shares of the utilities provider’s stock, valued at approximately $1,003,000.
Other large investors have also recently modified their holdings of the company. Live Your Vision LLC lifted its position in PPL by 75.3% in the 2nd quarter. Live Your Vision LLC now owns 4,190 shares of the utilities provider’s stock valued at $119,000 after purchasing an additional 1,800 shares during the last quarter. McKinley Carter Wealth Services Inc. bought a new stake in PPL in the 1st quarter valued at about $120,000. Squar Milner Financial Services LLC bought a new stake in PPL in the 2nd quarter valued at about $125,000. Smithfield Trust Co. lifted its position in PPL by 131.1% in the 1st quarter. Smithfield Trust Co. now owns 4,958 shares of the utilities provider’s stock valued at $141,000 after purchasing an additional 2,813 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in PPL by 267.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,726 shares of the utilities provider’s stock valued at $163,000 after purchasing an additional 4,168 shares during the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.
Several brokerages recently weighed in on PPL. Citigroup began coverage on shares of PPL in a research report on Thursday. They issued a “neutral” rating and a $30.00 price objective on the stock. Deutsche Bank downgraded shares of PPL from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. ValuEngine downgraded shares of PPL from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Morgan Stanley boosted their price target on shares of PPL from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. Finally, Zacks Investment Research upgraded shares of PPL from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. PPL has an average rating of “Hold” and a consensus target price of $34.70.
PPL (NYSE:PPL) last announced its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.75 billion. PPL had a net margin of 18.08% and a return on equity of 15.30%. research analysts forecast that PPL Corp will post 2.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 5.52%. PPL’s dividend payout ratio is currently 72.89%.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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