State of New Jersey Common Pension Fund D Lowers Holdings in PPL Co. (NYSE:PPL)

State of New Jersey Common Pension Fund D lessened its stake in shares of PPL Co. (NYSE:PPLFree Report) by 12.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 347,791 shares of the utilities provider’s stock after selling 49,639 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PPL were worth $8,194,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PPL. Slagle Financial LLC bought a new position in shares of PPL in the second quarter worth about $212,000. Sei Investments Co. boosted its stake in PPL by 3.1% during the second quarter. Sei Investments Co. now owns 899,586 shares of the utilities provider’s stock valued at $23,803,000 after buying an additional 26,789 shares during the last quarter. Picton Mahoney Asset Management bought a new position in PPL during the third quarter valued at approximately $2,412,000. Virtu Financial LLC bought a new position in PPL during the second quarter valued at approximately $479,000. Finally, Duality Advisers LP boosted its stake in PPL by 367.4% during the third quarter. Duality Advisers LP now owns 103,251 shares of the utilities provider’s stock valued at $2,433,000 after buying an additional 81,160 shares during the last quarter. Institutional investors own 73.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PPL. StockNews.com upgraded PPL from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. BMO Capital Markets restated an “outperform” rating and set a $52.00 price objective on shares of PPL in a research report on Wednesday, December 20th. Barclays upped their price objective on PPL from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, January 22nd. Morgan Stanley upped their price objective on PPL from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, November 21st. Finally, TheStreet upgraded PPL from a “c+” rating to a “b-” rating in a research report on Wednesday, December 27th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, PPL presently has an average rating of “Hold” and an average target price of $32.63.

View Our Latest Research Report on PPL

PPL Trading Up 0.8 %

Shares of NYSE PPL opened at $25.87 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.79 and a current ratio of 0.96. The business’s 50 day moving average price is $26.57 and its 200-day moving average price is $25.65. PPL Co. has a fifty-two week low of $22.20 and a fifty-two week high of $29.14. The company has a market cap of $19.07 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.03 and a beta of 0.82.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.96 annualized dividend and a dividend yield of 3.71%. PPL’s payout ratio is 86.49%.

PPL Profile

(Free Report)

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.5 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.

Further Reading

Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Co. (NYSE:PPLFree Report).

Institutional Ownership by Quarter for PPL (NYSE:PPL)

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