QRG Capital Management Inc. Increases Position in PPL Co. (NYSE:PPL)

QRG Capital Management Inc. increased its stake in shares of PPL Co. (NYSE:PPL) by 15.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 251,757 shares of the utilities provider’s stock after acquiring an additional 33,131 shares during the period. QRG Capital Management Inc.’s holdings in PPL were worth $8,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of PPL by 3,322.3% in the third quarter. International Assets Investment Management LLC now owns 212,423 shares of the utilities provider’s stock valued at $6,421,000 after purchasing an additional 206,216 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in PPL by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,220 shares of the utilities provider’s stock valued at $1,585,000 after buying an additional 12,609 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in PPL by 4.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 60,749 shares of the utilities provider’s stock worth $2,010,000 after buying an additional 2,474 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of PPL in the 3rd quarter worth $253,000. Finally, abrdn plc boosted its holdings in shares of PPL by 26.3% in the third quarter. abrdn plc now owns 891,238 shares of the utilities provider’s stock valued at $29,469,000 after acquiring an additional 185,491 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Performance

Shares of PPL opened at $34.53 on Friday. PPL Co. has a 12-month low of $25.87 and a 12-month high of $35.15. The stock has a market cap of $25.50 billion, a P/E ratio of 28.54, a PEG ratio of 2.77 and a beta of 0.83. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average of $33.23 and a two-hundred day moving average of $32.84.

PPL (NYSE:PPL) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.09 billion. PPL had a return on equity of 8.88% and a net margin of 10.49%. As a group, research analysts predict that PPL Co. will post 1.83 EPS for the current fiscal year.

PPL Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Monday, March 10th. This is a boost from PPL’s previous quarterly dividend of $0.26. PPL’s dividend payout ratio (DPR) is currently 90.08%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PPL shares. Bank of America increased their price target on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Barclays raised their price target on PPL from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday. Jefferies Financial Group dropped their price objective on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Citigroup boosted their target price on shares of PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets started coverage on shares of PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target for the company. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, PPL has a consensus rating of “Moderate Buy” and an average target price of $34.27.

Insider Activity at PPL

In other PPL news, SVP Tadd J. Henninger sold 6,639 shares of PPL stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total value of $213,510.24. Following the completion of the sale, the senior vice president now directly owns 11,210 shares of the company’s stock, valued at approximately $360,513.60. The trade was a 37.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David J. Bonenberger sold 981 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total value of $32,843.88. Following the transaction, the chief operating officer now directly owns 45,414 shares in the company, valued at approximately $1,520,460.72. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,633 shares of company stock valued at $346,657. 0.22% of the stock is owned by insiders.

PPL Company Profile

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.