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.
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.
TRADEMARK VIOLATION NOTICE: “Mirae Asset Global Investments Co. Ltd. Has $9.23 Million Stake in PPL Corp (PPL)” was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.com-unik.info/2018/12/04/mirae-asset-global-investments-co-ltd-has-9-23-million-stake-in-ppl-corp-ppl.html.
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: Fundamental Analysis
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).
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.