Sumitomo Mitsui Asset Management Company LTD Boosts Stake in PPL Corp. (PPL)
Sumitomo Mitsui Asset Management Company LTD increased its position in shares of PPL Corp. (NYSE:PPL) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,774 shares of the company’s stock after buying an additional 1,914 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in PPL Corp. were worth $1,954,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Kistler Tiffany Companies LLC raised its stake in shares of PPL Corp. by 97.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,040 shares of the company’s stock worth $153,000 after buying an additional 1,991 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in shares of PPL Corp. by 18.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 4,474 shares of the company’s stock worth $169,000 after buying an additional 683 shares during the period. Wagner Bowman Management Corp bought a new stake in shares of PPL Corp. during the second quarter worth $208,000. Princeton Portfolio Strategies Group LLC bought a new stake in shares of PPL Corp. during the first quarter worth $210,000. Finally, Whittier Trust Co. raised its stake in shares of PPL Corp. by 5.6% in the second quarter. Whittier Trust Co. now owns 5,620 shares of the company’s stock worth $212,000 after buying an additional 300 shares during the period. 69.51% of the stock is currently owned by hedge funds and other institutional investors.
PPL Corp. (NYSE:PPL) traded up 0.43% on Monday, hitting $33.06. 3,411,441 shares of the company traded hands. The stock’s 50-day moving average is $34.25 and its 200 day moving average is $36.74. PPL Corp. has a 12 month low of $32.08 and a 12 month high of $39.92. The stock has a market cap of $22.42 billion, a PE ratio of 12.82 and a beta of 0.38.
PPL Corp. (NYSE:PPL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. PPL Corp. had a net margin of 23.56% and a return on equity of 14.77%. PPL Corp.’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. Equities research analysts expect that PPL Corp. will post $2.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were paid a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.60%. PPL Corp.’s dividend payout ratio is presently 58.69%.
A number of brokerages have recently weighed in on PPL. Zacks Investment Research raised shares of PPL Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Hilliard Lyons lowered shares of PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Jefferies Group lowered shares of PPL Corp. from a “buy” rating to a “hold” rating and dropped their price objective for the company from $41.50 to $38.00 in a report on Thursday, July 14th. Guggenheim lowered shares of PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, August 9th. Finally, Argus lowered their price target 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. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $37.86.
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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