First Trust Direct Indexing L.P. Increases Stock Position in PPL Co. (NYSE:PPL)

First Trust Direct Indexing L.P. increased its position in shares of PPL Co. (NYSE:PPLFree Report) by 18.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,548 shares of the utilities provider’s stock after buying an additional 2,156 shares during the period. First Trust Direct Indexing L.P.’s holdings in PPL were worth $373,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. lifted its holdings in PPL by 17.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 52,988 shares of the utilities provider’s stock valued at $1,459,000 after purchasing an additional 7,941 shares in the last quarter. Prairie Sky Financial Group LLC purchased a new position in PPL during the first quarter valued at $203,000. Wealth Enhancement Advisory Services LLC lifted its holdings in PPL by 4.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 59,295 shares of the utilities provider’s stock valued at $1,632,000 after purchasing an additional 2,342 shares in the last quarter. West Paces Advisors Inc. purchased a new position in PPL during the first quarter valued at $93,000. Finally, Arkfeld Wealth Strategies L.L.C. boosted its position in PPL by 0.5% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 77,512 shares of the utilities provider’s stock worth $2,087,000 after acquiring an additional 418 shares during the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

PPL Price Performance

Shares of PPL opened at $27.41 on Monday. PPL Co. has a fifty-two week low of $22.20 and a fifty-two week high of $29.89. The firm’s 50 day moving average price is $28.41 and its 200 day moving average price is $27.34. The company has a market cap of $20.22 billion, a P/E ratio of 26.61, a PEG ratio of 2.35 and a beta of 0.81. The company has a quick ratio of 1.08, a current ratio of 1.28 and a debt-to-equity ratio of 1.12.

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

PPL Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 10th were issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Monday, June 10th. PPL’s dividend payout ratio (DPR) is presently 100.00%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PPL. StockNews.com upgraded shares of PPL from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Wells Fargo & Company boosted their price target on shares of PPL from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada lifted their target price on shares of PPL from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Barclays lifted their target price on shares of PPL from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, Morgan Stanley reduced their target price on shares of PPL from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.36.

View Our Latest Analysis on PPL

PPL Company 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.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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