Terra Nova Asset Management LLC Has $443,000 Position in PPL Corp. (PPL)
Terra Nova Asset Management LLC raised its stake in shares of PPL Corp. (NYSE:PPL) by 58.8% during the second quarter, Holdings Channel reports. The firm owned 11,730 shares of the company’s stock after buying an additional 4,345 shares during the period. Terra Nova Asset Management LLC’s holdings in PPL Corp. were worth $443,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Nomura Asset Management Co. Ltd. boosted its stake in PPL Corp. by 2.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 86,051 shares of the company’s stock valued at $2,937,000 after buying an additional 1,690 shares during the period. Norges Bank acquired a new stake in PPL Corp. during the fourth quarter valued at approximately $13,652,000. PGGM Investments boosted its stake in PPL Corp. by 5.1% in the first quarter. PGGM Investments now owns 568,218 shares of the company’s stock valued at $21,632,000 after buying an additional 27,585 shares during the period. River Wealth Advisors LLC boosted its stake in PPL Corp. by 2.6% in the first quarter. River Wealth Advisors LLC now owns 54,053 shares of the company’s stock valued at $2,058,000 after buying an additional 1,357 shares during the period. Finally, Aperio Group LLC boosted its stake in PPL Corp. by 15.3% in the first quarter. Aperio Group LLC now owns 265,312 shares of the company’s stock valued at $10,100,000 after buying an additional 35,305 shares during the period. Institutional investors own 69.52% of the company’s stock.
Shares of PPL Corp. (NYSE:PPL) traded up 1.96% during trading on Wednesday, hitting $35.45. The company’s stock had a trading volume of 4,460,013 shares. The company has a market capitalization of $24.04 billion, a P/E ratio of 13.75 and a beta of 0.35. The firm’s 50 day moving average is $35.27 and its 200-day moving average is $37.11. PPL Corp. has a 1-year low of $30.92 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 for the quarter, topping the consensus estimate of $0.53 by $0.03. PPL Corp. had a return on equity of 14.77% and a net margin of 23.56%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm posted $0.49 EPS. The business’s revenue was up .2% compared to the same quarter last year. Analysts forecast that PPL Corp. will post $2.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.29%. The ex-dividend date is Wednesday, September 7th. PPL Corp.’s payout ratio is currently 58.69%.
A number of brokerages have recently issued reports on PPL. Barclays PLC cut PPL Corp. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $41.00 to $42.00 in a report on Monday, June 27th. Hilliard Lyons cut PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Jefferies Group cut PPL Corp. from a “buy” rating to a “hold” rating and decreased their target price for the stock from $41.50 to $38.00 in a report on Thursday, July 14th. Zacks Investment Research upgraded PPL Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Finally, Vetr upgraded PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Thursday, July 14th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $37.86.
In other news, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $37.06, for a total transaction of $58,591.86. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert A. Symons sold 13,901 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $37.40, for a total value of $519,897.40. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.
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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