M&T Bank Corp Acquires 16,026 Shares of PPL Corp (PPL)

M&T Bank Corp raised its holdings in shares of PPL Corp (NYSE:PPL) by 9.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 182,552 shares of the utilities provider’s stock after acquiring an additional 16,026 shares during the quarter. M&T Bank Corp’s holdings in PPL were worth $5,172,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Arlington Partners LLC purchased a new stake in shares of PPL during the fourth quarter valued at approximately $28,000. Ipswich Investment Management Co. Inc. purchased a new stake in shares of PPL during the fourth quarter valued at approximately $41,000. Mondrian Investment Partners LTD purchased a new stake in shares of PPL during the fourth quarter valued at approximately $42,000. Reilly Financial Advisors LLC raised its stake in shares of PPL by 39.5% during the fourth quarter. Reilly Financial Advisors LLC now owns 2,120 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 600 shares during the period. Finally, Sound Income Strategies LLC raised its stake in shares of PPL by 623.7% during the fourth quarter. Sound Income Strategies LLC now owns 3,481 shares of the utilities provider’s stock valued at $99,000 after purchasing an additional 3,000 shares during the period. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PPL opened at $31.29 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.58 and a quick ratio of 0.51. The firm has a market capitalization of $22.36 billion, a P/E ratio of 13.91, a P/E/G ratio of 2.54 and a beta of 0.55. PPL Corp has a 12-month low of $25.30 and a 12-month high of $32.46.

A number of analysts have recently issued reports on PPL shares. Evercore ISI lowered shares of PPL from an “outperform” rating to an “in-line” rating in a research note on Thursday. Zacks Investment Research upgraded shares of PPL from a “sell” rating to a “hold” rating in a research note on Friday, January 11th. ValuEngine upgraded shares of PPL from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Desjardins reiterated an “average” rating and set a $52.00 price objective on shares of PPL in a research note on Monday, January 7th. Finally, Bank of America lowered shares of PPL from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $29.00 to $28.00 in a research note on Monday, January 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. PPL currently has an average rating of “Hold” and a consensus target price of $34.44.

In related news, insider Gregory N. Dudkin sold 9,430 shares of PPL stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $29.91, for a total value of $282,051.30. Following the completion of the sale, the insider now owns 37,503 shares in the company, valued at $1,121,714.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Paul W. Thompson sold 4,573 shares of PPL stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $28.25, for a total transaction of $129,187.25. Following the completion of the sale, the chairman now owns 7,419 shares of the company’s stock, valued at approximately $209,586.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,623 shares of company stock valued at $1,403,738. Insiders own 0.38% of the company’s stock.

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PPL 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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