PPL Corp (NYSE:PPL) Shares Bought by Lido Advisors LLC
Lido Advisors LLC raised its holdings in PPL Corp (NYSE:PPL) by 19.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,288 shares of the utilities provider’s stock after buying an additional 3,131 shares during the quarter. Lido Advisors LLC’s holdings in PPL were worth $550,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Daiwa Securities Group Inc. grew its stake in PPL by 14.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 23,332 shares of the utilities provider’s stock valued at $660,000 after purchasing an additional 2,950 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in PPL by 19.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 176,743 shares of the utilities provider’s stock worth $5,093,000 after purchasing an additional 29,131 shares in the last quarter. Mackay Shields LLC purchased a new stake in PPL during the 1st quarter worth about $3,309,000. Victory Capital Management Inc. lifted its holdings in PPL by 27.9% during the 1st quarter. Victory Capital Management Inc. now owns 675,444 shares of the utilities provider’s stock worth $19,108,000 after purchasing an additional 147,467 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in PPL by 37.0% during the 1st quarter. D.A. Davidson & CO. now owns 12,691 shares of the utilities provider’s stock worth $359,000 after purchasing an additional 3,430 shares in the last quarter. 80.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PPL stock traded down $0.11 during trading on Friday, hitting $30.16. 3,017,411 shares of the stock traded hands, compared to its average volume of 4,273,708. The company has a current ratio of 0.58, a quick ratio of 0.52 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $21.09 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 2.57 and a beta of 0.50. PPL Corp has a 52 week low of $25.30 and a 52 week high of $39.41.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 10th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, September 7th. This represents a $1.64 annualized dividend and a yield of 5.44%. PPL’s payout ratio is 72.89%.
A number of brokerages recently issued reports on PPL. Morgan Stanley increased their price objective on PPL from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Tuesday, September 11th. TheStreet raised PPL from a “c+” rating to a “b-” rating in a report on Tuesday, August 28th. Zacks Investment Research raised PPL from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Citigroup began coverage on PPL in a report on Thursday, August 23rd. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, UBS Group dropped their price objective on PPL from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, June 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. PPL has a consensus rating of “Hold” and an average target price of $34.30.
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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