QRG Capital Management Inc. Has $7.23 Million Stake in PPL Co. (NYSE:PPL)

QRG Capital Management Inc. lifted its holdings in shares of PPL Co. (NYSE:PPL) by 397.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 218,626 shares of the utilities provider’s stock after purchasing an additional 174,638 shares during the quarter. QRG Capital Management Inc.’s holdings in PPL were worth $7,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Leelyn Smith LLC boosted its position in PPL by 0.4% during the second quarter. Leelyn Smith LLC now owns 79,887 shares of the utilities provider’s stock worth $2,209,000 after purchasing an additional 331 shares during the period. TFC Financial Management Inc. boosted its holdings in shares of PPL by 15.7% during the 2nd quarter. TFC Financial Management Inc. now owns 2,611 shares of the utilities provider’s stock worth $72,000 after buying an additional 355 shares during the period. Centennial Wealth Advisory LLC grew its stake in PPL by 3.4% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 11,250 shares of the utilities provider’s stock valued at $311,000 after buying an additional 366 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in PPL by 3.1% in the 3rd quarter. Valeo Financial Advisors LLC now owns 12,360 shares of the utilities provider’s stock valued at $409,000 after acquiring an additional 370 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in PPL by 1.4% during the third quarter. Exchange Traded Concepts LLC now owns 26,264 shares of the utilities provider’s stock worth $869,000 after acquiring an additional 370 shares during the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Price Performance

PPL stock opened at $32.59 on Wednesday. The company’s 50-day moving average price is $32.35 and its two-hundred day moving average price is $30.14. The firm has a market cap of $24.04 billion, a P/E ratio of 29.10, a P/E/G ratio of 2.70 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. PPL Co. has a 12 month low of $24.93 and a 12 month high of $33.38.

PPL (NYSE:PPL) last announced its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the firm posted $0.43 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a dividend of $0.2575 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.16%. PPL’s dividend payout ratio is currently 91.97%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. started coverage on PPL in a research report on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price on the stock. Bank of America upped their price objective on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley increased their price objective on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their target price on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group initiated coverage on shares of PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, PPL has an average rating of “Moderate Buy” and an average price target of $35.50.

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.