Miller Howard Investments Boosts Holdings in PPL Co. (PPL:NYE)

PPL Stock

Miller Howard Investments Inc. NY has increased its stake in PPL Co. (PPL:NYE) by 267% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired an additional 183,100 shares, bringing its total to 251,670 shares of the PPL stock worth $7,354,000 at the end of the reporting period.

 

Institutional Holdings:

Other large investors have also recently modified their holdings in the company. CI Investments Inc. boosted its stake in PPL by 989.9% during the third quarter, while MinichMacGregor Wealth Management LLC and Worth Asset Management LLC purchased new positions in PPL during the fourth quarter and first quarter, respectively.

Gradient Investments LLC raised its position in PPL by 56.3% during the third quarter, and Allworth Financial LP lifted its holdings in shares of PPL by 70.6% in the same quarter. Institutional investors own 70.02% of the PPL stock.

 

Insider Transactions:

In related news, PPL insider John R. Crockett III sold 5,500 shares of the PPL stock in a transaction on April 5th. The shares were sold at an average price of $28.00, for a total transaction of $154,000.00. Following the sale, the insider now owns 9,161 shares in the company, valued at $256,508.

 

PPL Stock-Analyst Ratings:

Several research firms recently weighed in on PPL, Barclays initiating coverage on PPL with an “equal weight” rating, and Mizuho lowering their target price on shares of PPL from $32.00 to $28.00.

TheStreet also downgraded PPL from a “b” rating to a “c+” rating, while Morgan Stanley lowered its price objective on PPL from $31.00 to $29.00 and set an “overweight” rating for the company.

PPL Ratings by Stock Target Advisor

PPL Stock Price Analysis:

PPL Co. has a market capitalization of $21.03 billion, a PE ratio of 27.88, and a beta of 0.77. The company has a 1-year low of $23.47 and a 1-year high of $31.74, with a 50-day moving average price of $27.70 and a 200-day moving average price of $27.96.

Based on data from Stock Target Advisor, PPL stock presently has a consensus rating of “Buy” and an average target price of $31.83.

PPL Ratings by Stock Target Advisor

Quarterly Earnings Review:

The utility provider reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28, and had revenue of $2.29 billion for the same period.

PPL had a return on equity of 7.50% and a net margin of 9.57%. The firm’s revenue for the quarter was up 54.2% compared to the same quarter last year, and analysts expect PPL Co. to post 1.59 EPS for the current year.

 

PPL Stock Dividend:

The business has also increased its quarterly dividend, paying shareholders of record on March 10th a $0.24 dividend, representing a $0.96 annualized dividend and a yield of 3.36%. This is a positive change from PPL’s previous quarterly dividend of $0.23, with a current dividend payout ratio of 93.20%.

 

Company Profile:

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated.

The company serves customers in Louisville and adjacent areas in Kentucky; electric customers in central, southeastern, and western Kentucky; and electric customers in five counties in southwestern Virginia.

It also delivers electricity to customers in 29 counties within eastern and central Pennsylvania; and generates electricity from coal, gas, hydro, and solar sources in Kentucky; and sells wholesale electricity to two municipalities in Kentucky. The company was founded in 1920 and is headquartered in Allentown, Pennsylvania.

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