QRG Capital Management Inc. Buys 5,334 Shares of PPL Co. (NYSE:PPL)

QRG Capital Management Inc. raised its stake in PPL Co. (NYSE:PPLFree Report) by 18.9% during the fourth quarter, HoldingsChannel reports. The fund owned 33,549 shares of the utilities provider’s stock after buying an additional 5,334 shares during the period. QRG Capital Management Inc.’s holdings in PPL were worth $909,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cary Street Partners Investment Advisory LLC lifted its stake in shares of PPL by 5.4% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 8,192 shares of the utilities provider’s stock worth $222,000 after buying an additional 421 shares in the last quarter. Principal Securities Inc. purchased a new position in PPL in the 4th quarter worth approximately $339,000. Montag A & Associates Inc. lifted its position in PPL by 16.2% in the 4th quarter. Montag A & Associates Inc. now owns 5,925 shares of the utilities provider’s stock valued at $162,000 after acquiring an additional 825 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in PPL by 299.9% during the 4th quarter. Picton Mahoney Asset Management now owns 409,339 shares of the utilities provider’s stock valued at $11,093,000 after purchasing an additional 306,975 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PPL by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,532,127 shares of the utilities provider’s stock worth $122,821,000 after purchasing an additional 115,177 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. TheStreet downgraded PPL from a “b-” rating to a “c” rating in a report on Friday, February 16th. Mizuho raised their price target on shares of PPL from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Argus raised shares of PPL from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Friday, March 8th. StockNews.com upgraded shares of PPL from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, 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 report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.27.

View Our Latest Research Report on PPL

PPL Trading Up 0.1 %

NYSE:PPL opened at $29.61 on Friday. The firm has a market capitalization of $21.84 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 2.68 and a beta of 0.81. 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 business has a fifty day moving average price of $27.46 and a 200-day moving average price of $26.72. PPL Co. has a one year low of $22.20 and a one year high of $29.69.

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

PPL Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be given a $0.2575 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.48%. PPL’s payout ratio is currently 100.00%.

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.

See Also

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)

Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.