OppenheimerFunds Inc. lifted its holdings in PPL Corp (NYSE:PPL) by 51.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,102,936 shares of the utilities provider’s stock after purchasing an additional 374,243 shares during the period. OppenheimerFunds Inc.’s holdings in PPL were worth $35,007,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Liberty Wealth Management LLC purchased a new stake in PPL in the 4th quarter worth approximately $27,000. Sandy Spring Bank increased its holdings in PPL by 109.1% in the 4th quarter. Sandy Spring Bank now owns 1,171 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 611 shares in the last quarter. Private Capital Group LLC increased its holdings in PPL by 68.6% in the 1st quarter. Private Capital Group LLC now owns 1,111 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 452 shares in the last quarter. Berman Capital Advisors LLC purchased a new stake in PPL in the 4th quarter worth approximately $39,000. Finally, Resources Investment Advisors Inc. increased its holdings in PPL by 129.8% in the 1st quarter. Resources Investment Advisors Inc. now owns 1,241 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 701 shares in the last quarter. Hedge funds and other institutional investors own 72.91% of the company’s stock.

PPL traded up $0.50 during trading on Wednesday, reaching $31.11. 61,605 shares of the company traded hands, compared to its average volume of 4,612,471. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.60 and a quick ratio of 0.53. PPL Corp has a 12-month low of $25.68 and a 12-month high of $32.88. The firm has a market cap of $22.42 billion, a P/E ratio of 12.96 and a beta of 0.52.

PPL (NYSE:PPL) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). PPL had a net margin of 23.79% and a return on equity of 14.52%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the business earned $0.74 earnings per share. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that PPL Corp will post 2.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be issued a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Friday, June 7th. PPL’s dividend payout ratio (DPR) is currently 68.75%.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada lowered shares of PPL from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $32.00 to $33.00 in a report on Friday, March 8th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of PPL from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Mizuho assumed coverage on shares of PPL in a report on Monday, June 3rd. They issued a “neutral” rating and a $30.00 target price for the company. SunTrust Banks reissued a “buy” rating and issued a $35.00 target price on shares of PPL in a report on Wednesday, February 13th. Finally, Raymond James reaffirmed an “average” rating on shares of PPL in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. PPL presently has an average rating of “Hold” and an average target price of $33.90.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/oppenheimerfunds-inc-acquires-374243-shares-of-ppl-corp-nyseppl/3039383.html.

PPL Company Profile

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.

Read More: How a Put Option Works

Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corp (NYSE:PPL).

Institutional Ownership by Quarter for PPL (NYSE:PPL)

Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.