Rafferty Asset Management LLC Boosts Stake in PPL Co. (NYSE:PPL)

Rafferty Asset Management LLC increased its stake in shares of PPL Co. (NYSE:PPLFree Report) by 9.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 82,243 shares of the utilities provider’s stock after purchasing an additional 7,127 shares during the period. Rafferty Asset Management LLC’s holdings in PPL were worth $2,229,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its holdings in PPL by 13,891.2% during the 3rd quarter. Lazard Asset Management LLC now owns 11,724,495 shares of the utilities provider’s stock worth $276,229,000 after buying an additional 11,640,696 shares in the last quarter. Norges Bank acquired a new stake in PPL during the 4th quarter worth approximately $115,605,000. Clearbridge Investments LLC lifted its holdings in PPL by 239.8% during the 4th quarter. Clearbridge Investments LLC now owns 3,128,744 shares of the utilities provider’s stock worth $84,789,000 after buying an additional 2,208,081 shares in the last quarter. California Public Employees Retirement System lifted its holdings in PPL by 83.5% during the 4th quarter. California Public Employees Retirement System now owns 4,269,687 shares of the utilities provider’s stock worth $115,709,000 after buying an additional 1,943,282 shares in the last quarter. Finally, FMR LLC lifted its holdings in PPL by 13.4% during the 3rd quarter. FMR LLC now owns 14,390,818 shares of the utilities provider’s stock worth $339,048,000 after buying an additional 1,695,726 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of PPL from $29.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Wells Fargo & Company raised their price objective on shares of PPL from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Mizuho lifted their price target on shares of PPL from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. TheStreet lowered shares of PPL from a “b-” rating to a “c” rating in a research note on Friday, February 16th. Finally, Argus upgraded shares of PPL from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Friday, March 8th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.45.

Read Our Latest Analysis on PPL

PPL Stock Down 1.0 %

PPL stock opened at $28.41 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.28 and a quick ratio of 1.08. The company’s 50 day simple moving average is $28.08 and its 200-day simple moving average is $27.13. PPL Co. has a 12 month low of $22.20 and a 12 month high of $29.89. The firm has a market capitalization of $20.96 billion, a PE ratio of 27.58, a P/E/G ratio of 2.44 and a beta of 0.82.

PPL (NYSE:PPLGet Free Report) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.39 billion. PPL had a return on equity of 8.80% and a net margin of 9.29%. PPL’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. Equities analysts expect that PPL Co. will post 1.71 earnings per share for the current fiscal year.

PPL Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be paid a $0.2575 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.03 annualized dividend and a yield of 3.63%. PPL’s payout ratio is currently 100.00%.

PPL Profile

(Free Report)

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.

See Also

Institutional Ownership by Quarter for PPL (NYSE:PPL)

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