PPL Corp (PPL) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System boosted its holdings in shares of PPL Corp (NYSE:PPL) by 23.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,896,991 shares of the utilities provider’s stock after buying an additional 365,925 shares during the period. California Public Employees Retirement System’s holdings in PPL were worth $54,159,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PPL. Neuberger Berman Group LLC boosted its stake in PPL by 4.1% during the first quarter. Neuberger Berman Group LLC now owns 457,731 shares of the utilities provider’s stock valued at $12,949,000 after buying an additional 18,019 shares during the period. Eagle Asset Management Inc. boosted its stake in PPL by 14.9% during the first quarter. Eagle Asset Management Inc. now owns 114,621 shares of the utilities provider’s stock valued at $3,242,000 after buying an additional 14,900 shares during the period. KBC Group NV boosted its stake in PPL by 7.9% during the first quarter. KBC Group NV now owns 76,765 shares of the utilities provider’s stock valued at $2,172,000 after buying an additional 5,644 shares during the period. BlackRock Inc. boosted its stake in PPL by 17.2% during the first quarter. BlackRock Inc. now owns 60,971,163 shares of the utilities provider’s stock valued at $1,724,873,000 after buying an additional 8,934,723 shares during the period. Finally, Toronto Dominion Bank boosted its stake in PPL by 23.4% during the first quarter. Toronto Dominion Bank now owns 375,017 shares of the utilities provider’s stock valued at $10,607,000 after buying an additional 71,207 shares during the period. 80.14% of the stock is owned by institutional investors.

Shares of PPL stock opened at $29.68 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.58 and a quick ratio of 0.52. PPL Corp has a 12-month low of $25.30 and a 12-month high of $38.94. The stock has a market cap of $20.75 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 2.53 and a beta of 0.50.

PPL (NYSE:PPL) last issued its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. PPL had a return on equity of 15.30% and a net margin of 18.08%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.75 billion. equities research analysts anticipate that PPL Corp will post 2.34 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 10th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 5.53%. The ex-dividend date is Friday, September 7th. PPL’s dividend payout ratio (DPR) is currently 72.89%.

Several research firms recently issued reports on PPL. Wells Fargo & Co lifted their price objective on PPL from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Zacks Investment Research raised PPL from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, September 12th. Morgan Stanley lifted their price objective on PPL from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Tuesday, September 11th. TheStreet raised PPL from a “c+” rating to a “b-” rating in a research note on Tuesday, August 28th. Finally, Citigroup began coverage on PPL in a research note on Thursday, August 23rd. They set a “neutral” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.18.

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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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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