Alps Advisors Inc. Cuts Position in PPL Corp. (PPL)
Alps Advisors Inc. lowered its position in shares of PPL Corp. (NYSE:PPL) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,047 shares of the company’s stock after selling 675 shares during the period. Alps Advisors Inc.’s holdings in PPL Corp. were worth $455,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in PPL. Los Angeles Capital Management & Equity Research Inc. boosted its stake in PPL Corp. by 183.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 220,783 shares of the company’s stock worth $8,405,000 after buying an additional 142,955 shares during the last quarter. Ngam Advisors L.P. boosted its stake in PPL Corp. by 0.5% in the first quarter. Ngam Advisors L.P. now owns 72,729 shares of the company’s stock worth $2,769,000 after buying an additional 368 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in PPL Corp. by 4.0% in the first quarter. TIAA CREF Investment Management LLC now owns 3,308,182 shares of the company’s stock worth $125,942,000 after buying an additional 126,457 shares during the last quarter. FDO Partners LLC purchased a new stake in PPL Corp. during the first quarter worth approximately $244,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in PPL Corp. by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 17,296,185 shares of the company’s stock worth $658,466,000 after buying an additional 101,677 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 0.76% during mid-day trading on Wednesday, hitting $32.65. 10,898,333 shares of the stock traded hands. The stock has a market cap of $22.14 billion, a price-to-earnings ratio of 12.66 and a beta of 0.38. The firm has a 50 day moving average of $34.80 and a 200 day moving average of $36.97. PPL Corp. has a 12 month low of $32.18 and a 12 month high of $39.92.
PPL Corp. (NYSE:PPL) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. PPL Corp. had a net margin of 23.56% and a return on equity of 14.77%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that PPL Corp. will post $2.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Wednesday, September 7th. PPL Corp.’s dividend payout ratio (DPR) is presently 58.69%.
PPL has been the topic of a number of recent analyst reports. Vetr upgraded shares of PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Thursday, July 14th. Argus dropped their target price on shares of PPL Corp. from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, September 9th. Barclays PLC dropped their target price on shares of PPL Corp. from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Credit Suisse Group AG restated a “hold” rating and issued a $44.00 target price on shares of PPL Corp. in a report on Friday, August 5th. Finally, Zacks Investment Research upgraded shares of PPL Corp. from a “sell” rating to a “hold” rating in a 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 company. The company currently has an average rating of “Hold” and a consensus target price of $37.86.
In other PPL Corp. news, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the company’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $37.06, for a total transaction of $58,591.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Symons sold 13,901 shares of the company’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $37.40, for a total transaction of $519,897.40. The disclosure for this sale can be found here. Corporate 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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