Ausbil Investment Management Ltd Acquires Shares of 123,982 PPL Co. (NYSE:PPL)

by · The Markets Daily

Ausbil Investment Management Ltd bought a new position in shares of PPL Co. (NYSE:PPL – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 123,982 shares of the utilities provider’s stock, valued at approximately $4,101,000. PPL accounts for approximately 1.2% of Ausbil Investment Management Ltd’s portfolio, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of PPL. Gateway Investment Advisers LLC lifted its holdings in shares of PPL by 65.2% in the 1st quarter. Gateway Investment Advisers LLC now owns 24,893 shares of the utilities provider’s stock worth $685,000 after buying an additional 9,828 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in PPL by 4.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 59,295 shares of the utilities provider’s stock worth $1,632,000 after acquiring an additional 2,342 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in PPL by 17.6% during the 1st 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 during the period. First Trust Direct Indexing L.P. raised its holdings in shares of PPL by 18.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 13,548 shares of the utilities provider’s stock valued at $373,000 after purchasing an additional 2,156 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of PPL by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 849,891 shares of the utilities provider’s stock worth $23,397,000 after purchasing an additional 18,792 shares during the period. Institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

NYSE:PPL traded down $0.25 during mid-day trading on Thursday, hitting $32.88. The company’s stock had a trading volume of 466,684 shares, compared to its average volume of 4,805,640. The business’s fifty day moving average is $32.20 and its two-hundred day moving average is $29.77. The stock has a market cap of $24.26 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 2.79 and a beta of 0.82. PPL Co. has a 1 year low of $23.99 and a 1 year high of $33.38. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91.

PPL (NYSE:PPL – Get Free Report) last posted its earnings results on Friday, August 2nd. The utilities provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company earned $0.29 earnings per share. PPL’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts anticipate that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Tuesday, September 10th. PPL’s dividend payout ratio (DPR) is presently 90.35%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Jefferies Financial Group began coverage on PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 target price on the stock. Barclays increased their price objective on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday. Bank of America upped their target price on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Morgan Stanley upped their price objective on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.22.

View Our Latest Stock Analysis on PPL

PPL 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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