QRG Capital Management Inc. Has $7.23 Million Stake in PPL Co. (NYSE:PPL)

by · The Cerbat Gem

QRG Capital Management Inc. lifted its stake in PPL Co. (NYSE:PPL – Free Report) by 397.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 218,626 shares of the utilities provider’s stock after purchasing an additional 174,638 shares during the period. QRG Capital Management Inc.’s holdings in PPL were worth $7,232,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in PPL by 52.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,336 shares of the utilities provider’s stock valued at $4,197,000 after buying an additional 52,870 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of PPL in the 1st quarter valued at $49,000. Daiwa Securities Group Inc. boosted its position in shares of PPL by 24.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 86,516 shares of the utilities provider’s stock worth $2,382,000 after purchasing an additional 16,821 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of PPL by 1.2% during the first quarter. Mutual of America Capital Management LLC now owns 156,151 shares of the utilities provider’s stock worth $4,299,000 after purchasing an additional 1,905 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of PPL during the first quarter worth $42,000. Institutional investors own 76.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PPL. Bank of America raised their target price on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company lifted their price objective on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group started coverage on shares of PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 price target on the stock. Finally, Morgan Stanley upped their price objective on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Read Our Latest Research Report on PPL

PPL Price Performance

NYSE PPL opened at $32.59 on Wednesday. PPL Co. has a 12-month low of $24.93 and a 12-month high of $33.38. The firm’s 50 day moving average is $32.35 and its 200-day moving average is $30.14. The company has a market capitalization of $24.04 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17.

PPL (NYSE:PPL – Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. PPL had a return on equity of 9.20% and a net margin of 9.95%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s dividend payout ratio (DPR) is currently 91.97%.

PPL 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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