Rhumbline Advisers Sells 17,217 Shares of PPL Corporation $PPL

Rhumbline Advisers trimmed its holdings in shares of PPL Corporation (NYSE:PPL) by 1.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,358,732 shares of the utilities provider’s stock after selling 17,217 shares during the period. Rhumbline Advisers owned approximately 0.18% of PPL worth $50,490,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. J.Safra Asset Management Corp acquired a new position in PPL in the third quarter worth about $28,000. Global Wealth Strategies & Associates acquired a new stake in PPL during the third quarter valued at approximately $30,000. Sound Income Strategies LLC grew its stake in shares of PPL by 322.5% in the 3rd quarter. Sound Income Strategies LLC now owns 959 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 732 shares during the period. MTM Investment Management LLC bought a new stake in shares of PPL in the 2nd quarter valued at approximately $44,000. Finally, Quent Capital LLC acquired a new position in shares of PPL in the 3rd quarter worth approximately $54,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Trading Up 3.3%

Shares of NYSE PPL opened at $37.81 on Friday. PPL Corporation has a 1-year low of $32.50 and a 1-year high of $38.26. The company has a 50-day moving average of $35.36 and a two-hundred day moving average of $36.09. The company has a market cap of $27.97 billion, a PE ratio of 25.54, a P/E/G ratio of 2.55 and a beta of 0.70. The company has a current ratio of 0.77, a quick ratio of 0.66 and a debt-to-equity ratio of 1.18.

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Wednesday, December 10th were paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, December 10th. PPL’s dividend payout ratio is 73.65%.

Analysts Set New Price Targets

PPL has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on PPL from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, December 11th. UBS Group lowered their target price on shares of PPL from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. BMO Capital Markets increased their target price on shares of PPL from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. BTIG Research upgraded shares of PPL to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Barclays decreased their price objective on shares of PPL from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $40.50.

About PPL

PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.

PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.