Axa grew its stake in shares of PPL Corp (NYSE:PPL) by 398.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,409 shares of the utilities provider’s stock after buying an additional 37,900 shares during the quarter. Axa’s holdings in PPL were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Archford Capital Strategies LLC grew its stake in shares of PPL by 444.8% in the 2nd quarter. Archford Capital Strategies LLC now owns 3,868 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 3,158 shares during the last quarter. Westbourne Investment Advisors Inc. acquired a new position in shares of PPL in the 3rd quarter worth approximately $153,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of PPL by 267.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,726 shares of the utilities provider’s stock worth $163,000 after purchasing an additional 4,168 shares during the last quarter. ProVise Management Group LLC acquired a new position in shares of PPL in the 2nd quarter worth approximately $202,000. Finally, Greenleaf Trust acquired a new position in shares of PPL in the 2nd quarter worth approximately $210,000. Institutional investors own 76.13% of the company’s stock.

Several brokerages have recently issued reports on PPL. Morgan Stanley lifted their price objective on shares of PPL from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Tuesday, September 11th. Citigroup began coverage on shares of PPL in a research note on Thursday, August 23rd. They issued a “neutral” rating and a $30.00 price objective on the stock. TheStreet raised shares of PPL from a “c+” rating to a “b-” rating in a research note on Tuesday, August 28th. Wells Fargo & Co lifted their price objective on shares of PPL from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, September 17th. Finally, Zacks Investment Research raised shares of PPL from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $32.80.

PPL stock opened at $30.71 on Thursday. The company has a market capitalization of $22.03 billion, a PE ratio of 13.65, a PEG ratio of 2.66 and a beta of 0.41. The company has a current ratio of 0.58, a quick ratio of 0.51 and a debt-to-equity ratio of 1.69. PPL Corp has a fifty-two week low of $25.30 and a fifty-two week high of $35.99.

PPL (NYSE:PPL) last released its earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.98 billion. PPL had a net margin of 19.17% and a return on equity of 15.23%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. On average, equities research analysts predict that PPL Corp will post 2.34 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend is Friday, December 7th. PPL’s dividend payout ratio (DPR) is currently 72.89%.

TRADEMARK VIOLATION WARNING: “PPL Corp (PPL) Holdings Increased by Axa” was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright legislation. The original version of this article can be viewed at https://www.watchlistnews.com/ppl-corp-ppl-holdings-increased-by-axa/2663736.html.

About PPL

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.

Featured Story: What is the NASDAQ?

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.