113,988 Shares in PPL Co. (PPL) Purchased by Arnhold LLC
Arnhold LLC acquired a new stake in PPL Co. (NYSE:PPL) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 113,988 shares of the utilities provider’s stock, valued at approximately $3,225,000.
Several other institutional investors have also bought and sold shares of PPL. Schwab Charles Investment Management Inc. boosted its stake in shares of PPL by 2.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,481,191 shares of the utilities provider’s stock worth $76,793,000 after acquiring an additional 53,099 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in shares of PPL in the fourth quarter worth approximately $1,017,000. Mutual of America Capital Management LLC boosted its stake in shares of PPL by 3.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 120,222 shares of the utilities provider’s stock worth $3,721,000 after acquiring an additional 4,529 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of PPL in the fourth quarter worth approximately $257,000. Finally, Dean Capital Investments Management LLC acquired a new stake in shares of PPL in the fourth quarter worth approximately $815,000. Institutional investors and hedge funds own 71.40% of the company’s stock.
A number of brokerages have recently issued reports on PPL. ValuEngine lowered PPL from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. UBS Group began coverage on PPL in a research note on Friday, February 2nd. They issued a “buy” rating and a $40.00 price target on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $33.00 price target on shares of PPL in a research note on Thursday, February 1st. SunTrust Banks set a $36.00 price target on PPL and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Evercore ISI raised PPL from an “in-line” rating to an “outperform” rating in a research note on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $37.15.
PPL (NYSE:PPL) last released its quarterly earnings data on Thursday, May 3rd. The utilities provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.09 billion. PPL had a return on equity of 15.24% and a net margin of 15.44%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. equities analysts anticipate that PPL Co. will post 2.3 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date is Thursday, June 7th. PPL’s dividend payout ratio (DPR) is currently 72.89%.
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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