PPL Co. (NYSE:PPL) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its position in PPL Co. (NYSE:PPLFree Report) by 8.0% during the fourth quarter, Holdings Channel reports. The firm owned 62,171 shares of the utilities provider’s stock after selling 5,389 shares during the period. First Citizens Bank & Trust Co.’s holdings in PPL were worth $1,685,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Coppell Advisory Solutions Corp. acquired a new stake in shares of PPL in the fourth quarter worth $25,000. West Tower Group LLC acquired a new position in shares of PPL in the 2nd quarter valued at about $26,000. Altshuler Shaham Ltd acquired a new position in shares of PPL in the 3rd quarter valued at about $26,000. Worth Asset Management LLC purchased a new stake in shares of PPL in the first quarter worth about $27,000. Finally, Compass Wealth Management LLC purchased a new position in PPL during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PPL shares. StockNews.com cut shares of PPL from a “hold” rating to a “sell” rating in a research note on Saturday, February 24th. Barclays raised their price target on shares of PPL from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. TheStreet cut PPL from a “b-” rating to a “c” rating in a research report on Friday, February 16th. Argus raised PPL from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, March 8th. Finally, Wells Fargo & Company dropped their price objective on PPL from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, PPL currently has an average rating of “Hold” and an average target price of $32.67.

Get Our Latest Research Report on PPL

PPL Price Performance

PPL stock traded up $0.06 during midday trading on Tuesday, reaching $27.56. The stock had a trading volume of 2,154,542 shares, compared to its average volume of 5,163,951. PPL Co. has a 52-week low of $22.20 and a 52-week high of $29.03. The company has a current ratio of 0.88, a quick ratio of 0.73 and a debt-to-equity ratio of 1.05. The company’s fifty day simple moving average is $26.49 and its 200 day simple moving average is $25.93. The company has a market cap of $20.33 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 2.49 and a beta of 0.81.

PPL (NYSE:PPLGet Free Report) last posted its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. PPL had a net margin of 8.90% and a return on equity of 8.45%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the firm posted $0.28 earnings per share. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. As a group, sell-side analysts predict that PPL Co. will post 1.71 earnings per share for the current fiscal year.

PPL Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.2575 dividend. The ex-dividend date was Thursday, March 7th. This is a positive change from PPL’s previous quarterly dividend of $0.24. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.74%. PPL’s dividend payout ratio is 103.00%.

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

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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