North Point Portfolio Managers Corp OH maintained its stake in shares of PPL Corp. (NYSE:PPL) during the second quarter, Holdings Channel reports. The institutional investor owned 7,700 shares of the company’s stock at the end of the second quarter. North Point Portfolio Managers Corp OH’s holdings in PPL Corp. were worth $291,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. State Street Corp raised its stake in shares of PPL Corp. by 8.8% in the first quarter. State Street Corp now owns 33,738,639 shares of the company’s stock worth $1,284,426,000 after buying an additional 2,729,972 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of PPL Corp. during the second quarter worth about $49,323,000. Renaissance Technologies LLC raised its stake in shares of PPL Corp. by 1,649.5% in the first quarter. Renaissance Technologies LLC now owns 1,347,100 shares of the company’s stock worth $51,284,000 after buying an additional 1,270,100 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of PPL Corp. by 14.0% in the second quarter. Nordea Investment Management AB now owns 9,434,152 shares of the company’s stock worth $356,139,000 after buying an additional 1,159,792 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of PPL Corp. during the first quarter worth about $28,247,000. 69.52% of the stock is currently owned by institutional investors.
PPL Corp. (NYSE:PPL) traded down 1.45% during midday trading on Tuesday, reaching $35.24. The company’s stock had a trading volume of 4,739,105 shares. The company has a 50 day moving average price of $35.13 and a 200 day moving average price of $37.09. The firm has a market cap of $23.90 billion, a price-to-earnings ratio of 13.67 and a beta of 0.35. PPL Corp. has a 1-year low of $32.18 and a 1-year high of $39.92.
PPL Corp. (NYSE:PPL) last issued its earnings results on Tuesday, August 9th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The business earned $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. PPL Corp. had a return on equity of 14.77% and a net margin of 23.56%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. On average, equities research analysts expect that PPL Corp. will post $2.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Wednesday, September 7th. PPL Corp.’s dividend payout ratio (DPR) is 58.69%.
A number of brokerages have recently issued reports on PPL. Zacks Investment Research raised PPL Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Jefferies Group lowered their price target on PPL Corp. from $38.00 to $37.00 and set a “hold” rating on the stock in a research note on Wednesday, August 10th. Barclays PLC lowered their price target on PPL Corp. from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $44.00 price target on shares of PPL Corp. in a research note on Friday, August 5th. Finally, Guggenheim lowered PPL Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 9th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.86.
In related news, insider Robert A. Symons sold 13,901 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $37.40, for a total value of $519,897.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $37.06, for a total value of $58,591.86. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
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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