Mirae Asset Global Investments Co. Ltd. Has $9.23 Million Stake in PPL Corp (PPL)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of PPL Corp (NYSE:PPL) by 3,285.7% during the third quarter, HoldingsChannel reports. The firm owned 315,578 shares of the utilities provider’s stock after acquiring an additional 306,257 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PPL were worth $9,233,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new stake in PPL during the 2nd quarter valued at about $234,000. Dupont Capital Management Corp grew its stake in PPL by 70.6% during the 2nd quarter. Dupont Capital Management Corp now owns 11,012 shares of the utilities provider’s stock valued at $314,000 after acquiring an additional 4,557 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in PPL by 10.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 25,862 shares of the utilities provider’s stock valued at $738,000 after acquiring an additional 2,530 shares in the last quarter. Aperio Group LLC grew its stake in PPL by 52.6% during the 2nd quarter. Aperio Group LLC now owns 341,718 shares of the utilities provider’s stock valued at $9,756,000 after acquiring an additional 117,721 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in PPL by 1.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 259,213 shares of the utilities provider’s stock valued at $7,401,000 after acquiring an additional 3,068 shares in the last quarter. Institutional investors own 76.13% of the company’s stock.

PPL stock opened at $31.11 on Tuesday. PPL Corp has a 1-year low of $25.30 and a 1-year high of $36.40. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.58 and a quick ratio of 0.51. The company has a market capitalization of $22.03 billion, a PE ratio of 13.83, a PEG ratio of 2.61 and a beta of 0.41.

PPL (NYSE:PPL) last posted its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. PPL had a net margin of 19.17% and a return on equity of 15.23%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the company posted $0.56 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that PPL Corp will post 2.34 earnings per share for the current fiscal year.

The company also recently declared 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 5.27%. PPL’s dividend payout ratio (DPR) is 72.89%.

Several brokerages recently issued reports on PPL. Morgan Stanley upped their price objective on shares of PPL from $29.00 to $30.00 and gave the company 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 set a “neutral” rating and a $30.00 price objective for the company. TheStreet raised shares of PPL from a “c+” rating to a “b-” rating in a research note on Tuesday, August 28th. Wells Fargo & Co upped their price objective on shares of PPL from $32.00 to $33.00 and gave the company 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 for the company in a research note on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. PPL currently has a consensus rating of “Hold” and an average price target of $32.80.

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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 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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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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