Keystone Financial Group Has $291,000 Stake in PPL Co. (NYSE:PPL)

Keystone Financial Group trimmed its position in shares of PPL Co. (NYSE:PPLFree Report) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,748 shares of the utilities provider’s stock after selling 1,264 shares during the quarter. Keystone Financial Group’s holdings in PPL were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. raised its stake in shares of PPL by 6.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 63,778 shares of the utilities provider’s stock valued at $1,502,000 after acquiring an additional 3,761 shares in the last quarter. M&T Bank Corp increased its position in PPL by 9.0% in the 3rd quarter. M&T Bank Corp now owns 82,177 shares of the utilities provider’s stock worth $1,938,000 after buying an additional 6,819 shares during the period. California Public Employees Retirement System increased its position in PPL by 60.8% in the 3rd quarter. California Public Employees Retirement System now owns 2,326,405 shares of the utilities provider’s stock worth $54,810,000 after buying an additional 879,588 shares during the period. Dai ichi Life Insurance Company Ltd increased its position in PPL by 10.3% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 49,399 shares of the utilities provider’s stock worth $1,164,000 after buying an additional 4,597 shares during the period. Finally, NBC Securities Inc. bought a new position in PPL in the 3rd quarter worth approximately $128,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PPL has been the topic of several recent analyst reports. Barclays lifted their price target on PPL from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Mizuho lifted their price target on PPL from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company boosted their price objective on PPL from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com upgraded PPL from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Royal Bank of Canada boosted their price objective on PPL from $30.00 to $31.00 and gave the company 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.27.

Check Out Our Latest Report on PPL

PPL Price Performance

PPL stock traded down $0.05 on Wednesday, reaching $29.79. The company’s stock had a trading volume of 796,610 shares, compared to its average volume of 4,989,666. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.08 and a current ratio of 1.28. PPL Co. has a twelve month low of $22.20 and a twelve month high of $29.89. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 2.69 and a beta of 0.81. The business’s fifty day moving average price is $27.61 and its 200 day moving average price is $26.85.

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

PPL Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, June 7th. PPL’s dividend payout ratio (DPR) is presently 100.00%.

About PPL

(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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