Riverhead Capital Management LLC increased its holdings in PPL Corp (NYSE:PPL) by 28.6% in the 1st quarter, HoldingsChannel reports. The fund owned 143,255 shares of the utilities provider’s stock after buying an additional 31,856 shares during the period. Riverhead Capital Management LLC’s holdings in PPL were worth $4,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PPL. First Personal Financial Services grew its holdings in PPL by 2.1% during the first quarter. First Personal Financial Services now owns 16,457 shares of the utilities provider’s stock valued at $522,000 after purchasing an additional 345 shares during the period. Old North State Trust LLC grew its holdings in PPL by 28.4% during the first quarter. Old North State Trust LLC now owns 1,593 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 352 shares during the period. Captrust Financial Advisors grew its holdings in PPL by 31.7% during the fourth quarter. Captrust Financial Advisors now owns 1,514 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 364 shares during the period. Ffcm LLC grew its holdings in PPL by 1.5% during the fourth quarter. Ffcm LLC now owns 28,275 shares of the utilities provider’s stock valued at $801,000 after purchasing an additional 412 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its holdings in PPL by 1.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 28,483 shares of the utilities provider’s stock valued at $904,000 after purchasing an additional 422 shares during the period. 72.91% of the stock is owned by institutional investors.

Shares of PPL stock traded up $0.24 on Friday, reaching $31.35. The company’s stock had a trading volume of 31,277 shares, compared to its average volume of 4,729,154. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.53 and a current ratio of 0.60. PPL Corp has a 12-month low of $26.08 and a 12-month high of $32.88. The company has a market capitalization of $22.49 billion, a PE ratio of 13.01 and a beta of 0.52.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be given a dividend of $0.4125 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.65 dividend on an annualized basis and a yield of 5.26%. PPL’s payout ratio is 68.75%.

Several equities research analysts have issued reports on PPL shares. Zacks Investment Research downgraded PPL from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Raymond James restated an “average” rating on shares of PPL in a research report on Monday, May 6th. UBS Group dropped their target price on PPL from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Royal Bank of Canada downgraded 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 research report on Friday, March 8th. They noted that the move was a valuation call. Finally, Mizuho started coverage on PPL in a research report on Monday, June 3rd. They set a “neutral” rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $33.90.

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About PPL

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.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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