Skandinaviska Enskilda Banken AB publ lowered its position in PPL Corp (NYSE:PPL) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 875,664 shares of the utilities provider’s stock after selling 6,080 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.13% of PPL worth $25,622,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Penserra Capital Management LLC bought a new position in PPL in the 3rd quarter worth about $1,472,000. Janney Montgomery Scott LLC boosted its stake in PPL by 6.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 505,159 shares of the utilities provider’s stock worth $14,781,000 after purchasing an additional 28,726 shares during the period. Gulf International Bank UK Ltd boosted its stake in PPL by 8.5% in the 3rd quarter. Gulf International Bank UK Ltd now owns 246,764 shares of the utilities provider’s stock worth $7,220,000 after purchasing an additional 19,400 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in PPL by 3.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 112,138 shares of the utilities provider’s stock worth $3,281,000 after purchasing an additional 3,900 shares during the period. Finally, Beach Investment Management LLC. boosted its stake in PPL by 29.4% in the 3rd quarter. Beach Investment Management LLC. now owns 34,460 shares of the utilities provider’s stock worth $1,008,000 after purchasing an additional 7,820 shares during the period. 80.24% of the stock is owned by institutional investors.
Several brokerages have commented on PPL. TheStreet upgraded PPL from a “c+” rating to a “b-” rating in a research note on Tuesday, August 28th. Zacks Investment Research downgraded PPL from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Morgan Stanley raised their target price on PPL from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Tuesday, September 11th. Citigroup began coverage on PPL in a research note on Thursday, August 23rd. They issued a “neutral” rating and a $30.00 target price for the company. Finally, ValuEngine upgraded PPL from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. PPL has an average rating of “Hold” and a consensus price target of $34.18.
PPL (NYSE:PPL) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.98 billion. PPL had a return on equity of 15.23% and a net margin of 19.17%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. On average, equities analysts forecast that PPL Corp will post 2.35 earnings per share for the current year.
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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