First Citizens Bank & Trust Co. purchased a new position in shares of PPL Corp (NYSE:PPL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,732 shares of the utilities provider’s stock, valued at approximately $616,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Arlington Partners LLC purchased a new position in shares of PPL during the 4th quarter worth about $28,000. Ipswich Investment Management Co. Inc. purchased a new position in shares of PPL during the 4th quarter worth about $41,000. Sound Income Strategies LLC lifted its holdings in PPL by 623.7% during the 4th quarter. Sound Income Strategies LLC now owns 3,481 shares of the utilities provider’s stock valued at $99,000 after buying an additional 3,000 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in PPL during the 3rd quarter valued at about $124,000. Finally, Westbourne Investment Advisors Inc. bought a new stake in PPL during the 3rd quarter valued at about $153,000. 75.90% of the stock is owned by hedge funds and other institutional investors.
NYSE:PPL opened at $29.90 on Friday. PPL Corp has a one year low of $25.30 and a one year high of $32.46. 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 stock has a market capitalization of $21.17 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 2.41 and a beta of 0.46.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th were issued a $0.41 dividend. The ex-dividend date was Friday, December 7th. This represents a $1.64 annualized dividend and a dividend yield of 5.48%. PPL’s dividend payout ratio is currently 72.89%.
A number of brokerages recently weighed in on PPL. Zacks Investment Research lowered shares of PPL from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. ValuEngine upgraded shares of PPL from a “sell” rating to a “hold” rating in a report on Tuesday, November 13th. Bank of America lowered shares of PPL from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $29.00 to $28.00 in a report on Monday. Finally, Desjardins reiterated an “average” rating and set a $52.00 price objective on shares of PPL in a report on Monday, January 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.60.
In other news, Chairman Paul W. Thompson sold 4,573 shares of the business’s stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $28.25, for a total value of $129,187.25. Following the completion of the sale, the chairman now owns 7,419 shares in the company, valued at approximately $209,586.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joanne H. Raphael sold 22,410 shares of the business’s stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $31.00, for a total transaction of $694,710.00. Following the completion of the sale, the senior vice president now owns 39,209 shares of the company’s stock, valued at approximately $1,215,479. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,556 shares of company stock valued at $953,085. Company insiders own 0.38% of the company’s stock.
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PPL Company 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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