PPL Corp. (PPL) Position Increased by Advisory Services Network LLC
Advisory Services Network LLC increased its stake in PPL Corp. (NYSE:PPL) by 123.1% during the second quarter, Holdings Channel reports. The institutional investor owned 12,386 shares of the company’s stock after buying an additional 6,834 shares during the period. Advisory Services Network LLC’s holdings in PPL Corp. were worth $468,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Kistler Tiffany Companies LLC boosted its stake in PPL Corp. by 97.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,040 shares of the company’s stock valued at $153,000 after buying an additional 1,991 shares in the last quarter. CapWealth Advisors LLC boosted its position in shares of 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 period. Wagner Bowman Management Corp acquired a new position in shares of PPL Corp. during the second quarter worth about $208,000. Princeton Portfolio Strategies Group LLC acquired a new position in shares of PPL Corp. during the first quarter worth about $210,000. Finally, JFS Wealth Advisors LLC boosted its position in shares of 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 period. 69.52% of the stock is owned by hedge funds and other institutional investors.
Shares of PPL Corp. (NYSE:PPL) traded down 0.46% during mid-day trading on Thursday, hitting $32.50. 8,117,127 shares of the stock were exchanged. The stock has a 50-day moving average price of $34.80 and a 200 day moving average price of $36.97. The firm has a market cap of $22.04 billion, a price-to-earnings ratio of 12.61 and a beta of 0.38. PPL Corp. has a 52-week low of $32.18 and a 52-week high of $39.92.
PPL Corp. (NYSE:PPL) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. PPL Corp. had a net margin of 23.56% and a return on equity of 14.77%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. On average, equities research analysts expect that PPL Corp. will post $2.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Wednesday, September 7th. PPL Corp.’s payout ratio is 58.69%.
A number of research analysts recently issued reports on PPL shares. Barclays PLC cut shares of PPL Corp. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $41.00 to $42.00 in a research report on Monday, June 27th. Hilliard Lyons cut shares of PPL Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. Jefferies Group cut shares of PPL Corp. from a “buy” rating to a “hold” rating and lowered their price target for the company from $41.50 to $38.00 in a research report on Thursday, July 14th. Zacks Investment Research raised shares of PPL Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Finally, Vetr raised 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. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $37.86.
In other PPL Corp. news, 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 transaction of $519,897.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
PPL Corp. Company Profile
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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