Coastal Investment Advisors Inc. cuts its stake in PPL Co. (NYSE:PPL)

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Coastal Investment Advisors Inc. reduced its stake in PPL Co. (NYSE: PPL – Get Rating) by 7.6% during the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The company held 13,479 shares of the utility provider after selling 1,101 shares during the period. Coastal Investment Advisors Inc.’s holdings in PPL were worth $385,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently changed their positions in PPL. Dark Forest Capital Management LP bought a new position in PPL in Q3 worth approximately $67,000. MFA Wealth Advisors LLC bought a new position in PPL in Q3 worth approximately $78,000. Toroso Investments LLC purchased a new position in PPL stock during the third quarter worth approximately $303,000. Janus Henderson Group PLC increased its stake in PPL shares by 202.1% during the third quarter. Janus Henderson Group PLC now owns 650,804 shares of the utility provider valued at $18,145,000 after purchasing an additional 435,412 shares during the period. Finally, Atria Investments LLC increased its stake in PPL shares by 2.2% during the third quarter. Atria Investments LLC now owns 44,906 shares of the utility provider valued at $1,252,000 after purchasing an additional 951 shares during the period. 65.63% of the shares are currently held by institutional investors and hedge funds.

PPL has been the subject of several reports by research analysts. Credit Suisse Group reduced its target price on PPL from $33.00 to $29.00 and set an “outperform” rating on the stock in a Thursday, June 16 research note. StockNews.com upgraded the PPL from a “buy” rating to a “hold” rating in a Wednesday, June 8 research note. Wells Fargo & Company raised its price target on PPL from $33.00 to $34.00 in a Tuesday, June 7 research report. Argus downgraded PPL’s ​​shares from a “buy” rating to a “hold” rating in a Monday, April 4, research note. Finally, Morgan Stanley lowered its price target on PPL shares from $32.00 to $31.00 and set an “equal weight” rating for the company in a Monday, May 23 research report. Seven analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat, PPL has a consensus rating of “Hold” and a consensus target price of $30.75.

NYSE:PPL shares opened at $27.08 on Friday. The company has a debt ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.79. PPL Co. has a 1-year minimum of $24.98 and a 1-year maximum of $30.72. The company has a market capitalization of $19.93 billion, a P/E ratio of 31.86 and a beta of 0.73. The stock’s fifty-day moving average price is $28.74 and its 200-day moving average price is $28.58.

PPL (NYSE:PPL – Get Rating) last released its results on Thursday, May 5. The utility provider reported earnings per share (EPS) of $0.41 for the quarter, beating the consensus estimate of $0.40 by $0.01. PPL had a net margin of 10.43% and a return on equity of 6.25%. The company posted revenue of $1.78 billion for the quarter, compared to $1.65 billion for analysts. In the same quarter of the previous year, the company had achieved EPS of $0.28. The company’s revenue for the quarter increased by 19.0% compared to the same quarter last year. On average, sell-side analysts expect PPL Co. to post 1.38 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Investors of record on Tuesday, June 21 will receive a dividend of $0.225. The ex-dividend date is Friday, June 17. This represents an annualized dividend of $0.90 and a yield of 3.32%. This is a boost from the previous quarterly PPL dividend of $0.20. PPL’s ​​dividend payout ratio (DPR) is currently 105.88%.

In other news, insider Stephanie R. Raymond sold 3,374 shares in a trade on Wednesday, June 8. The stock was sold at an average price of $30.45, for a total transaction of $102,738.30. Following the transaction, the insider now directly owns 23,182 shares of the company, valued at approximately $705,891.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Insiders own 0.17% of the shares of the company.

PPL Profile (Get an assessment)

PPL Corporation, a utility holding company, supplies electricity and natural gas in the United States and the United Kingdom. The Company operates through two segments: Kentucky Regulated and Pennsylvania Regulated. It serves approximately 429,000 electricity customers and 333,000 natural gas customers in Louisville and adjacent areas of Kentucky; 538,000 electric customers in central, southeast, and western Kentucky; and 28,000 electric customers in five southwestern Virginia counties.

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Institutional ownership by quarter for PPL (NYSE:PPL)



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