Coastal Investment Advisors Inc. reduce its stake in PPL Co. (NYSE: PPL – Get Rating) by 7.6% in the first quarter, according to its latest submission to the Securities and Exchange Commission (SEC). The company owned 13,479 shares of the utility provider’s shares after selling 1,101 shares during the period. The holdings of Coastal Investment Advisors Inc. in PPL are worth $ 385,000 at the end of the last reporting period.
A number of other institutional investors have also recently made changes to their positions in PPL. Dark Forest Capital Management LP bought a new position in PPL in the third quarter worth approximately $ 67,000. MFA Wealth Advisors LLC bought a new position in PPL in the third quarter worth approximately $ 78,000. Toroso Investments LLC bought a new position in PPL shares in the third quarter worth approximately $ 303,000. Janus Henderson Group PLC increased its stake in PPL shares by 202.1% in the third quarter. Janus Henderson Group PLC already owns 650,804 shares of the utility provider’s shares worth $ 18,145,000 after purchasing an additional 435,412 shares during the period. Finally, Atria Investments LLC increased its stake in PPL shares by 2.2% in the third quarter. Atria Investments LLC now owns 44,906 shares of the utility provider’s shares worth $ 1,252,000 after purchasing an additional 951 shares during the period. 65.63% of the shares are currently owned by institutional investors and hedge funds.
PPL has been the subject of several reports by research analysts. Credit Suisse Group lowered its PPL target price from $ 33.00 to $ 29.00 and set a rating “superior” to the shares in a research note on Thursday, June 16. StockNews.com downgraded PPL from a buy rating to a hold rating in a research note on Wednesday (June 8th). Wells Fargo & Company raised its PPL price target from $ 33.00 to $ 34.00 in a research report on Tuesday, June 7. Argus downgraded PPL shares from a buy rating to a hold rating in a research note on Monday (April 4th). Finally, Morgan Stanley lowered its PPL stock price target from $ 32.00 to $ 31.00 and set an “equal weight” rating for the company in a research report on Monday, May 23rd. Seven analysts rated the shares with a retention rating, and four gave a rating for the purchase of shares. According to MarketBeat, PPL has a consensus hold rating and a consensus target price of $ 30.75.
Shares of NYSE: PPL opened at $ 27.08 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a fast ratio of 1.79. PPL Co. has a one-year low of $ 24.98 and a 1-year high of $ 30.72. The company has a market capitalization of $ 19.93 billion, a P / E ratio of 31.86 and a beta of 0.73. The 50-day moving average price on the stock is $ 28.74, and its 200-day moving average price is $ 28.58.
PPL (NYSE: PPL – Get Rating) last published its results on Thursday, May 5. The utility provider reported $ 0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.40 by $ 0.01. PPL had a net margin of 10.43% and a return on equity of 6.25%. The business had revenue of $ 1.78 billion for the quarter, compared to analysts’ expectations of $ 1.65 billion. In the same quarter of the previous year, the business earned $ 0.28 EPS. Business revenues for the quarter increased by 19.0% compared to the same quarter last year. On average, sales analysts expect PPL Co. will report 1.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 1. Record investors on Tuesday, June 21, will receive a dividend of $ 0.225. The date of the former dividend of this dividend is Friday, June 17. This represents a $ 0.90 annual dividend and a yield of 3.32%. This is a boost from the previous quarterly PPL dividend of $ 0.20. PPL’s dividend payout ratio (DPR) is currently 105.88%.
In other news, insider Stephanie R. Raymond sold 3,374 shares of shares in a deal on Wednesday (June 8th). The shares were sold at an average price of $ 30.45, for a total transaction of $ 102,738.30. Following the transaction, the insider now directly owns 23,182 shares of the company’s stock worth approximately $ 705,891.90. The transaction is disclosed in the legal documentation of the Securities and Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s shares.
PPL profile (Get a rating)
PPL Corporation, a holding company for utilities, supplies electricity and natural gas to the United States and the United Kingdom. The company operates in two segments: Regulated in Kentucky and Regulated in Pennsylvania. Serves approximately 429,000 electric and 333,000 natural gas customers in Louisville and surrounding areas in Kentucky; 538,000 electrical customers in central, southeastern and western Kentucky; and 28,000 electrical customers in five counties in Southwest Virginia.
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