Park Place Capital Corp Sells 1,908 Shares of PPL Co. (NYSE:PPL)

Park Place Capital Corp trimmed its stake in shares of PPL Co. (NYSE:PPL) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,485 shares of the utilities provider’s stock after selling 1,908 shares during the quarter. Park Place Capital Corp’s holdings in PPL were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. raised its position in shares of PPL by 17.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 52,988 shares of the utilities provider’s stock worth $1,459,000 after acquiring an additional 7,941 shares during the last quarter. Prairie Sky Financial Group LLC acquired a new position in shares of PPL during the 1st quarter valued at $203,000. Wealth Enhancement Advisory Services LLC grew its holdings in PPL by 4.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 59,295 shares of the utilities provider’s stock worth $1,632,000 after purchasing an additional 2,342 shares during the period. West Paces Advisors Inc. acquired a new position in shares of PPL during the first quarter valued at about $93,000. Finally, Arkfeld Wealth Strategies L.L.C. boosted its position in shares of PPL by 0.5% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 77,512 shares of the utilities provider’s stock worth $2,087,000 after purchasing an additional 418 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors.

PPL Trading Down 1.0 %

Shares of PPL stock opened at $27.36 on Tuesday. The company’s 50-day moving average price is $28.39 and its 200-day moving average price is $27.31. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.37 and a beta of 0.81. PPL Co. has a 12-month low of $22.20 and a 12-month high of $29.89. The company has a current ratio of 1.28, a quick ratio of 1.08 and a debt-to-equity ratio of 1.12.

PPL (NYSE:PPL) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.48 EPS. On average, equities analysts expect that PPL Co. will post 1.71 earnings per share for the current fiscal year.

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 10th were issued a $0.2575 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.76%. PPL’s payout ratio is currently 100.00%.

Analyst Ratings Changes

Several equities research analysts have commented on PPL shares. Barclays increased their price objective on shares of PPL from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Mizuho upped their price objective on PPL from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Argus raised PPL from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, March 8th. StockNews.com raised shares of PPL from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Finally, Wells Fargo & Company raised their price objective on shares of PPL from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PPL has a consensus rating of “Moderate Buy” and a consensus price target of $32.36.

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.