PPL Corp. (PPL) Shares Down 1.5%
PPL Corp. (NYSE:PPL) was down 1.5% during trading on Wednesday . The company traded as low as $36.85 and last traded at $37.07, with a volume of 2,955,885 shares changing hands. The stock had previously closed at $37.62.
A number of equities research analysts have commented on PPL shares. Credit Suisse Group AG reissued a “buy” rating and issued a $40.00 price objective on shares of PPL Corp. in a research note on Tuesday, April 12th. Jefferies Group reissued a “buy” rating and issued a $41.50 price objective on shares of PPL Corp. in a research note on Friday, April 29th. Barclays PLC reissued a “buy” rating on shares of PPL Corp. in a research note on Saturday, April 23rd. Argus raised their price objective on PPL Corp. from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, March 21st. Finally, Vetr raised PPL Corp. from a “sell” rating to a “hold” rating and set a $36.75 price objective for the company in a research note on Tuesday, March 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $37.98.
The firm has a market cap of $25.25 billion and a price-to-earnings ratio of 49.21. The firm has a 50-day moving average of $38.40 and a 200-day moving average of $36.69.
PPL Corp. (NYSE:PPL) last announced its earnings results on Thursday, April 28th. The company reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.07. The company earned $2.01 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities analysts expect that PPL Corp. will post $2.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 10th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $1.52 dividend on an annualized basis and a yield of 4.08%.
In other PPL Corp. news, CFO Vincent Sorgi sold 10,400 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $38.94, for a total transaction of $404,976.00. Following the sale, the chief financial officer now directly owns 18,534 shares of the company’s stock, valued at $721,713.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William H. Spence sold 156,224 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $38.79, for a total value of $6,059,928.96. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in PPL Corp. by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 998,139 shares of the company’s stock worth $34,069,000 after buying an additional 57,201 shares in the last quarter. Opus Investment Management Inc. boosted its stake in PPL Corp. by 16.5% in the fourth quarter. Opus Investment Management Inc. now owns 141,142 shares of the company’s stock worth $4,817,000 after buying an additional 20,000 shares in the last quarter. Stephens Inc. AR boosted its stake in PPL Corp. by 5.8% in the fourth quarter. Stephens Inc. AR now owns 126,790 shares of the company’s stock worth $4,327,000 after buying an additional 6,943 shares in the last quarter. Pittenger & Anderson Inc. boosted its stake in PPL Corp. by 3.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 39,375 shares of the company’s stock worth $1,344,000 after buying an additional 1,455 shares in the last quarter. Finally, ARGI Investment Services LLC boosted its stake in PPL Corp. by 214.7% in the fourth quarter. ARGI Investment Services LLC now owns 32,038 shares of the company’s stock worth $1,093,000 after buying an additional 21,859 shares in the last quarter.
PPL Corporation (PPL) is an energy and 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; generates electricity from power plants in the northeastern, northwestern and southeastern United States, and markets wholesale or retail energy in the northeastern and northwestern parts of the United States.
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