Logan Capital Management Inc. Sells 870 Shares of PPL Co. (NYSE:PPL)

Logan Capital Management Inc. trimmed its position in PPL Co. (NYSE:PPLFree Report) by 42.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,195 shares of the utilities provider’s stock after selling 870 shares during the period. Logan Capital Management Inc.’s holdings in PPL were worth $32,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. boosted its stake in PPL by 23.8% in the fourth quarter. Pinebridge Investments L.P. now owns 522,420 shares of the utilities provider’s stock valued at $14,158,000 after acquiring an additional 100,593 shares during the last quarter. Cibc World Markets Corp lifted its stake in shares of PPL by 133.2% during the 4th quarter. Cibc World Markets Corp now owns 94,876 shares of the utilities provider’s stock valued at $2,571,000 after buying an additional 54,193 shares in the last quarter. Magellan Asset Management Ltd lifted its stake in shares of PPL by 0.9% during the 4th quarter. Magellan Asset Management Ltd now owns 594,794 shares of the utilities provider’s stock valued at $16,119,000 after buying an additional 5,421 shares in the last quarter. Gabelli Funds LLC lifted its stake in shares of PPL by 1.1% during the 4th quarter. Gabelli Funds LLC now owns 577,632 shares of the utilities provider’s stock valued at $15,654,000 after buying an additional 6,040 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of PPL by 1,642.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 65,620 shares of the utilities provider’s stock valued at $1,778,000 after buying an additional 61,853 shares in the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Price Performance

Shares of NYSE:PPL opened at $28.16 on Tuesday. The company’s fifty day moving average price is $28.10 and its 200-day moving average price is $27.15. The firm has a market capitalization of $20.77 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.44 and a beta of 0.82. PPL Co. has a one year low of $22.20 and a one year high of $29.89. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.28 and a quick ratio of 1.08.

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

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 10th will be issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, June 10th. PPL’s dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

A number of brokerages recently commented on PPL. Argus upgraded shares of PPL from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Friday, March 8th. StockNews.com upgraded shares of PPL from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company increased their target price on shares of PPL from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Royal Bank of Canada increased their target price on shares of PPL from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Mizuho increased their target price on shares of PPL from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, PPL currently has an average rating of “Moderate Buy” and a consensus price target of $32.45.

Check Out Our Latest Stock Report on PPL

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.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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