Eaton Vance Management Acquires 140,226 Shares of PPL Corp (PPL)
Eaton Vance Management lifted its holdings in shares of PPL Corp (NYSE:PPL) by 55.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 393,960 shares of the utilities provider’s stock after purchasing an additional 140,226 shares during the period. Eaton Vance Management owned about 0.05% of PPL worth $11,527,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of PPL by 3.1% in the 3rd quarter. FMR LLC now owns 48,751,387 shares of the utilities provider’s stock worth $1,426,465,000 after purchasing an additional 1,474,816 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of PPL by 22.8% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,240,865 shares of the utilities provider’s stock worth $520,777,000 after purchasing an additional 3,388,148 shares during the period. Bank of New York Mellon Corp lifted its position in shares of PPL by 58.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 17,289,874 shares of the utilities provider’s stock worth $505,902,000 after purchasing an additional 6,361,091 shares during the period. Federated Investors Inc. PA lifted its position in shares of PPL by 0.7% in the 2nd quarter. Federated Investors Inc. PA now owns 14,672,337 shares of the utilities provider’s stock worth $418,896,000 after purchasing an additional 102,265 shares during the period. Finally, Northern Trust Corp lifted its position in shares of PPL by 1.2% in the 2nd quarter. Northern Trust Corp now owns 7,776,543 shares of the utilities provider’s stock worth $222,020,000 after purchasing an additional 89,362 shares during the period. 76.13% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on the stock. ValuEngine raised shares of PPL from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Wells Fargo & Co lifted their price target on shares of PPL from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Zacks Investment Research cut shares of PPL from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Morgan Stanley raised their price objective on shares of PPL from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Tuesday, September 11th. Finally, Citigroup initiated coverage on shares of PPL in a research note on Thursday, August 23rd. They set a “neutral” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $32.80.
PPL (NYSE:PPL) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. PPL had a net margin of 19.17% and a return on equity of 15.23%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business posted $0.56 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts anticipate that PPL Corp will post 2.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.34%. PPL’s dividend payout ratio is presently 72.89%.
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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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