Tower Research Capital LLC TRC Takes $735,000 Position in PPL Corp (PPL)
Tower Research Capital LLC TRC acquired a new position in shares of PPL Corp (NYSE:PPL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,751 shares of the utilities provider’s stock, valued at approximately $735,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of PPL by 17.2% during the 1st quarter. BlackRock Inc. now owns 60,971,163 shares of the utilities provider’s stock worth $1,724,873,000 after buying an additional 8,934,723 shares during the period. FMR LLC raised its stake in PPL by 89.2% during the 2nd quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock valued at $1,349,747,000 after purchasing an additional 22,285,268 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in PPL by 22.8% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,240,865 shares of the utilities provider’s stock valued at $520,777,000 after purchasing an additional 3,388,148 shares during the last quarter. Federated Investors Inc. PA raised its stake in PPL by 0.7% during the 2nd quarter. Federated Investors Inc. PA now owns 14,672,337 shares of the utilities provider’s stock valued at $418,896,000 after purchasing an additional 102,265 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in PPL by 69.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,928,783 shares of the utilities provider’s stock valued at $312,017,000 after purchasing an additional 4,489,564 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on PPL shares. Zacks Investment Research upgraded shares of PPL from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Deutsche Bank cut shares of PPL from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Wells Fargo & Co upped their target price 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. ValuEngine upgraded shares of PPL from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Finally, Citigroup initiated coverage on shares of PPL in a research note on Thursday, August 23rd. They set a “neutral” rating and a $30.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $34.18.
PPL (NYSE:PPL) last announced its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.75 billion. PPL had a net margin of 18.08% and a return on equity of 15.30%. On average, sell-side analysts predict that PPL Corp will post 2.34 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 10th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date of this dividend was Friday, September 7th. PPL’s dividend payout ratio (DPR) is currently 72.89%.
PPL Company Profile
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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