Huber Capital Management LLC Reduces Holdings in PPL Co. (NYSE:PPL)

Huber Capital Management LLC reduced its stake in PPL Co. (NYSE:PPL) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,746 shares of the utilities provider’s stock after selling 2,297 shares during the period. Huber Capital Management LLC’s holdings in PPL were worth $1,790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AE Wealth Management LLC raised its stake in shares of PPL by 4.8% during the second quarter. AE Wealth Management LLC now owns 400,346 shares of the utilities provider’s stock valued at $11,070,000 after acquiring an additional 18,414 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in PPL by 5.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 11,339 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 537 shares during the last quarter. Intech Investment Management LLC grew its position in shares of PPL by 41.0% in the 2nd quarter. Intech Investment Management LLC now owns 62,968 shares of the utilities provider’s stock worth $1,741,000 after buying an additional 18,308 shares during the last quarter. MQS Management LLC grew its position in shares of PPL by 83.3% in the 2nd quarter. MQS Management LLC now owns 17,033 shares of the utilities provider’s stock worth $471,000 after buying an additional 7,739 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of PPL by 31.4% during the second quarter. Blair William & Co. IL now owns 12,473 shares of the utilities provider’s stock valued at $345,000 after acquiring an additional 2,982 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.

PPL Trading Up 2.1 %

PPL stock opened at $32.46 on Friday. PPL Co. has a 12 month low of $22.20 and a 12 month high of $32.82. The company has a market capitalization of $23.95 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 2.79 and a beta of 0.82. The business’s fifty day simple moving average is $30.89 and its two-hundred day simple moving average is $28.88. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.12.

PPL (NYSE:PPL) last announced its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.92 billion. PPL had a net margin of 10.17% and a return on equity of 9.26%. PPL’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. As a group, equities analysts predict that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

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

Analyst Ratings Changes

PPL has been the subject of a number of research analyst reports. Jefferies Financial Group began coverage on PPL in a research note on Thursday. They issued a “buy” rating and a $38.00 price target for the company. Wells Fargo & Company lifted their target price on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley increased their price target on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Bank of America upped 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PPL presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.75.

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.