Calamos Advisors LLC raised its position in shares of PPL Corp. (NYSE:PPL) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 54,611 shares of the company’s stock after buying an additional 19 shares during the period. Calamos Advisors LLC’s holdings in PPL Corp. were worth $2,062,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. Kistler Tiffany Companies LLC boosted its stake in shares of 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 in the last quarter. CapWealth Advisors LLC raised its position 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 last quarter. Wagner Bowman Management Corp purchased a new position in PPL Corp. during the second quarter worth $208,000. Princeton Portfolio Strategies Group LLC purchased a new position in PPL Corp. during the first quarter worth $210,000. Finally, JFS Wealth Advisors LLC raised its position in PPL Corp. by 0.3% in the second quarter. JFS Wealth Advisors LLC now owns 5,712 shares of the company’s stock worth $216,000 after buying an additional 16 shares during the last quarter. 69.52% of the stock is owned by institutional investors and hedge funds.
Shares of PPL Corp. (NYSE:PPL) traded down 3.09% during midday trading on Tuesday, hitting $32.90. 9,571,682 shares of the stock traded hands. The stock has a market cap of $22.31 billion, a price-to-earnings ratio of 12.76 and a beta of 0.38. PPL Corp. has a 12-month low of $32.18 and a 12-month high of $39.92. The company’s 50 day moving average price is $34.87 and its 200-day moving average price is $37.00.
PPL Corp. (NYSE:PPL) last posted its earnings results on Tuesday, August 9th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. The firm earned $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. PPL Corp. had a net margin of 23.56% and a return on equity of 14.77%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. On average, equities research analysts expect that PPL Corp. will post $2.35 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Wednesday, September 7th. PPL Corp.’s dividend payout ratio (DPR) is 58.69%.
PPL has been the subject of a number of recent analyst reports. Argus dropped their price target on shares of PPL Corp. from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, September 9th. Barclays PLC lowered shares of PPL Corp. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $41.00 to $42.00 in a research report on Monday, June 27th. Credit Suisse Group AG reiterated a “hold” rating and issued a $44.00 price target on shares of PPL Corp. in a research report on Friday, August 5th. Vetr upgraded shares of PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Thursday, July 14th. Finally, Zacks Investment Research upgraded shares of PPL Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $37.86.
In other 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 transaction of $519,897.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph P. Bergstein, Jr. sold 1,581 shares of PPL Corp. stock in a transaction that occurred on Friday, July 8th. The shares were 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. Insiders own 0.42% of the company’s stock.
About PPL Corp.
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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