PPL Corp (PPL) Shares Sold by Zebra Capital Management LLC
Zebra Capital Management LLC lowered its holdings in shares of PPL Corp (NYSE:PPL) by 25.2% in the second quarter, HoldingsChannel.com reports. The firm owned 25,578 shares of the utilities provider’s stock after selling 8,634 shares during the period. Zebra Capital Management LLC’s holdings in PPL were worth $730,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Archford Capital Strategies LLC grew its holdings in PPL by 444.8% during the second 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 period. Live Your Vision LLC grew its holdings in PPL by 75.3% during the second quarter. Live Your Vision LLC now owns 4,190 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 1,800 shares during the period. McKinley Carter Wealth Services Inc. bought a new position in PPL during the first quarter worth about $120,000. Squar Milner Financial Services LLC bought a new position in PPL during the second quarter worth about $125,000. Finally, Smithfield Trust Co. lifted its position in PPL by 131.1% during the first quarter. Smithfield Trust Co. now owns 4,958 shares of the utilities provider’s stock worth $141,000 after acquiring an additional 2,813 shares during the last quarter. Institutional investors and hedge funds own 80.18% of the company’s stock.
Shares of PPL stock opened at $30.16 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.58 and a quick ratio of 0.52. The company has a market cap of $21.09 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 2.57 and a beta of 0.50. PPL Corp has a 12-month low of $25.30 and a 12-month high of $39.41.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be given a $0.41 dividend. The ex-dividend date of this dividend is Friday, September 7th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.44%. PPL’s payout ratio is 72.89%.
Several equities research analysts have issued reports on PPL shares. Deutsche Bank downgraded shares of PPL from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of PPL from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday. Morgan Stanley raised their price objective 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. UBS Group cut their price objective on shares of PPL from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, June 8th. Finally, Citigroup started coverage on shares of PPL in a research report on Thursday, August 23rd. They set a “neutral” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.30.
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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