PPL Corp (PPL) Shares Bought by FormulaFolio Investments LLC
FormulaFolio Investments LLC raised its holdings in shares of PPL Corp (NYSE:PPL) by 60.1% in the third quarter, Holdings Channel reports. The institutional investor owned 17,901 shares of the utilities provider’s stock after buying an additional 6,721 shares during the quarter. FormulaFolio Investments LLC’s holdings in PPL were worth $524,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also modified their holdings of PPL. FMR LLC lifted its holdings in shares of PPL by 89.2% during the second quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock worth $1,349,747,000 after buying an additional 22,285,268 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of PPL by 69.7% in the second 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 in the last quarter. Luminus Management LLC raised its stake in shares of PPL by 180.4% in the second quarter. Luminus Management LLC now owns 6,189,367 shares of the utilities provider’s stock valued at $176,707,000 after purchasing an additional 3,981,732 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of PPL by 22.8% in the second 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 in the last quarter. Finally, Millennium Management LLC raised its stake in shares of PPL by 54.1% in the second quarter. Millennium Management LLC now owns 7,689,015 shares of the utilities provider’s stock valued at $219,521,000 after purchasing an additional 2,699,696 shares in the last quarter. Institutional investors own 78.35% of the company’s stock.
PPL has been the subject of a number of recent research reports. Deutsche Bank lowered 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 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 PPL from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Citigroup initiated coverage on PPL in a research note on Thursday, August 23rd. They issued a “neutral” rating and a $30.00 target price for the company. Finally, Zacks Investment Research upgraded PPL from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $34.18.
PPL (NYSE:PPL) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. PPL had a return on equity of 15.23% and a net margin of 19.17%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the business posted $0.56 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. As a group, research analysts predict that PPL Corp will post 2.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Friday, December 7th. PPL’s dividend payout ratio (DPR) is 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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