Commerzbank Aktiengesellschaft FI decreased its stake in shares of PPL Corp (NYSE:PPL) by 62.9% in the 4th quarter, Holdings Channel reports. The fund owned 95,370 shares of the utilities provider’s stock after selling 161,559 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in PPL were worth $3,422,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Bartlett & Co. LLC boosted its holdings in PPL by 100.0% during the third quarter. Bartlett & Co. LLC now owns 800 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 400 shares during the last quarter. Kings Point Capital Management acquired a new position in PPL during the second quarter worth $28,000. Venturi Wealth Management LLC acquired a new position in PPL during the third quarter worth $35,000. Stonebridge Capital Advisors LLC acquired a new position in PPL during the second quarter worth $38,000. Finally, Manchester Financial Inc. acquired a new position in PPL during the fourth quarter worth $44,000. 70.66% of the stock is owned by institutional investors.
Several research analysts recently commented on the stock. Guggenheim upgraded shares of PPL from a “neutral” rating to a “buy” rating in a report on Tuesday, January 7th. Zacks Investment Research upgraded shares of PPL from a “sell” rating to a “hold” rating and set a $34.00 target price for the company in a report on Tuesday, October 15th. Wells Fargo & Co assumed coverage on shares of PPL in a report on Thursday, December 19th. They set an “equal weight” rating and a $50.00 target price for the company. Argus restated a “buy” rating and set a $39.00 target price (up previously from $34.00) on shares of PPL in a report on Friday, January 10th. Finally, Macquarie upgraded shares of PPL from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $27.00 to $32.50 in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. PPL currently has a consensus rating of “Hold” and an average target price of $39.05.
Shares of PPL stock opened at $36.09 on Monday. The stock has a market cap of $26.00 billion, a P/E ratio of 14.67 and a beta of 0.51. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.66 and a quick ratio of 0.58. The company has a fifty day moving average price of $35.21 and a two-hundred day moving average price of $32.21. PPL Corp has a one year low of $28.55 and a one year high of $36.28.
PPL (NYSE:PPL) last announced its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.04 billion. PPL had a net margin of 23.17% and a return on equity of 14.73%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, equities research analysts anticipate that PPL Corp will post 2.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Monday, December 9th. PPL’s dividend payout ratio is currently 68.75%.
In other PPL news, CEO William H. Spence sold 388,968 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $34.32, for a total value of $13,349,381.76. Also, COO Vincent Sorgi sold 13,696 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.04, for a total transaction of $466,211.84. Following the completion of the sale, the chief operating officer now owns 30,976 shares of the company’s stock, valued at approximately $1,054,423.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,005,684 shares of company stock valued at $33,936,414. Corporate insiders own 0.34% of the company’s stock.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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