HM Payson & Co. lowered its stake in shares of PPL Corp (NYSE:PPL) by 18.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,574 shares of the utilities provider’s stock after selling 6,790 shares during the quarter. HM Payson & Co.’s holdings in PPL were worth $895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC boosted its stake in PPL by 89.2% during the second quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock worth $1,349,747,000 after acquiring an additional 22,285,268 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in PPL by 58.2% during the third quarter. Bank of New York Mellon Corp now owns 17,289,874 shares of the utilities provider’s stock worth $505,902,000 after acquiring an additional 6,361,091 shares in the last quarter. Luminus Management LLC boosted its stake in PPL by 180.4% during the second quarter. Luminus Management LLC now owns 6,189,367 shares of the utilities provider’s stock worth $176,707,000 after acquiring an additional 3,981,732 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in PPL by 22.8% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,240,865 shares of the utilities provider’s stock worth $520,777,000 after acquiring an additional 3,388,148 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in PPL by 54.1% during the second quarter. Millennium Management LLC now owns 7,689,015 shares of the utilities provider’s stock worth $219,521,000 after acquiring an additional 2,699,696 shares in the last quarter. Institutional investors own 78.35% of the company’s stock.
PPL has been the topic of several research reports. TheStreet raised shares of PPL from a “c+” rating to a “b-” rating in a research note on Tuesday, August 28th. 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. ValuEngine raised shares of PPL from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Morgan Stanley boosted 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. Finally, Deutsche Bank lowered shares of PPL from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. One research 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. PPL presently has an average rating of “Hold” and an average price target of $32.80.
PPL (NYSE:PPL) last issued its earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm 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 business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. On average, research analysts anticipate that PPL Corp will post 2.34 earnings per share for the current 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 paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $1.64 annualized dividend and a dividend yield of 5.36%. PPL’s dividend payout ratio is presently 72.89%.
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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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