Traders Buy Shares of PPL Corp. (PPL) on Weakness
Investors purchased shares of PPL Corp. (NYSE:PPL) on weakness during trading on Wednesday. $49.00 million flowed into the stock on the tick-up and $26.41 million flowed out of the stock on the tick-down, for a money net flow of $22.59 million into the stock. Of all equities tracked, PPL Corp. had the 18th highest net in-flow for the day. PPL Corp. traded down ($0.32) for the day and closed at $37.30
Several research analysts have issued reports on the stock. Vetr lowered shares of PPL Corp. from a “hold” rating to a “sell” rating and set a $36.75 price target for the company. in a report on Monday, April 4th. Barclays PLC raised their price target on shares of PPL Corp. from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Zacks Investment Research lowered shares of PPL Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 16th. Hilliard Lyons lowered shares of PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Finally, Jefferies Group restated a “buy” rating and set a $41.50 price target on shares of PPL Corp. in a report on Friday, April 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. PPL Corp. currently has a consensus rating of “Hold” and an average target price of $37.98.
The firm has a market capitalization of $25.25 billion and a price-to-earnings ratio of 49.21. The stock’s 50 day moving average is $38.40 and its 200-day moving average is $36.69.
PPL Corp. (NYSE:PPL) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.07. The firm earned $2.01 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts forecast that PPL Corp. will post $2.34 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 10th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Wednesday, June 8th.
In related news, CFO Vincent Sorgi sold 10,400 shares of the company’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 transaction, the chief financial officer now directly owns 18,534 shares of the company’s stock, valued at approximately $721,713.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory N. Dudkin sold 34,102 shares of the company’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $38.84, for a total value of $1,324,521.68. Following the transaction, the insider now directly owns 51,405 shares in the company, valued at $1,996,570.20. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of PPL Corp. by 2.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,892 shares of the company’s stock valued at $1,498,000 after buying an additional 846 shares in the last quarter. Pittenger & Anderson Inc. raised its position in shares of PPL Corp. by 3.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 39,375 shares of the company’s stock valued at $1,344,000 after buying an additional 1,455 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of PPL Corp. by 4.0% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 49,118 shares of the company’s stock valued at $1,676,000 after buying an additional 1,900 shares in the last quarter. Sei Investments Co. raised its position in shares of PPL Corp. by 4.4% in the fourth quarter. Sei Investments Co. now owns 48,391 shares of the company’s stock valued at $1,652,000 after buying an additional 2,024 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of PPL Corp. by 2.6% in the fourth quarter. Pinnacle Associates Ltd. now owns 93,469 shares of the company’s stock valued at $3,190,000 after buying an additional 2,376 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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