Mutual of America Capital Management LLC Decreases Stock Position in PPL Co. (NYSE:PPL)

Mutual of America Capital Management LLC cut its stake in shares of PPL Co. (NYSE:PPL) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 152,579 shares of the utilities provider’s stock after selling 3,572 shares during the period. Mutual of America Capital Management LLC’s holdings in PPL were worth $4,219,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PPL. Coldstream Capital Management Inc. purchased a new stake in PPL during the 4th quarter valued at $216,000. EverSource Wealth Advisors LLC increased its stake in shares of PPL by 46.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 480 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of PPL by 4.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 198,807 shares of the utilities provider’s stock worth $5,388,000 after purchasing an additional 8,727 shares in the last quarter. Hsbc Holdings PLC raised its holdings in PPL by 74.4% in the 4th quarter. Hsbc Holdings PLC now owns 2,409,628 shares of the utilities provider’s stock worth $65,161,000 after purchasing an additional 1,027,720 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new position in PPL in the 4th quarter worth $3,788,000. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on PPL shares. Morgan Stanley raised their target price on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Jefferies Financial Group started coverage on PPL in a report on Thursday. They issued a “buy” rating and a $38.00 target price on the stock. Wells Fargo & Company raised their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Bank of America raised their target price on PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, PPL currently has a consensus rating of “Moderate Buy” and an average price target of $33.75.

PPL Trading Up 2.1 %

Shares of PPL stock opened at $32.46 on Monday. The firm has a market cap of $23.95 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.79 and a beta of 0.82. The business has a 50-day moving average price of $30.89 and a 200-day moving average price of $28.91. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.12. PPL Co. has a twelve month low of $22.20 and a twelve month high of $32.82.

PPL (NYSE:PPL) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.92 billion. PPL had a return on equity of 9.26% and a net margin of 10.17%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. Equities research analysts anticipate that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be given a $0.2575 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $1.03 annualized dividend and a yield of 3.17%. PPL’s dividend payout ratio is currently 100.00%.

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.