Shell Asset Management Co. raised its position in PPL Corp. (NYSE:PPL) by 7.4% during the second quarter, Holdings Channel reports. The firm owned 81,493 shares of the company’s stock after buying an additional 5,602 shares during the period. Shell Asset Management Co.’s holdings in PPL Corp. were worth $3,076,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of PPL. Kistler Tiffany Companies LLC increased its stake in PPL Corp. by 97.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,040 shares of the company’s stock worth $153,000 after buying an additional 1,991 shares during the period. CapWealth Advisors LLC increased its stake in PPL Corp. by 7.0% in the first quarter. CapWealth Advisors LLC now owns 4,860 shares of the company’s stock worth $185,000 after buying an additional 319 shares during the period. OLD Dominion Capital Management Inc. acquired a new stake in PPL Corp. during the first quarter worth $205,000. Princeton Portfolio Strategies Group LLC acquired a new stake in PPL Corp. during the first quarter worth $210,000. Finally, TNB Financial acquired a new stake in PPL Corp. during the second quarter worth $222,000. Hedge funds and other institutional investors own 69.52% of the company’s stock.
Shares of PPL Corp. (NYSE:PPL) traded down 0.34% during midday trading on Friday, hitting $35.70. 4,155,500 shares of the stock traded hands. The company has a market cap of $24.21 billion, a price-to-earnings ratio of 13.85 and a beta of 0.35. The stock has a 50-day moving average of $35.19 and a 200-day moving average of $37.10. PPL Corp. has a 52-week low of $31.81 and a 52-week high of $39.92.
PPL Corp. (NYSE:PPL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. PPL Corp. had a net margin of 23.56% and a return on equity of 14.77%. The business earned $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts predict that PPL Corp. will post $2.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Wednesday, September 7th. PPL Corp.’s payout ratio is 58.69%.
A number of analysts have recently weighed in on PPL shares. Vetr upgraded shares of PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, July 14th. Argus reduced their target price on shares of PPL Corp. from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, September 9th. Barclays PLC dropped their price target on shares of PPL Corp. from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $44.00 price target on shares of PPL Corp. in a research note on Friday, August 5th. Finally, Zacks Investment Research raised shares of PPL Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $37.86.
In related news, insider Robert A. Symons sold 13,901 shares of PPL Corp. stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $37.40, for a total value of $519,897.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph P. Bergstein, Jr. sold 1,581 shares of PPL Corp. stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $37.06, for a total transaction of $58,591.86. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
PPL Corp. Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K.
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