Hennessy Advisors Inc. Has $18,212,000 Stake in PPL Corp. (PPL)
Hennessy Advisors Inc. increased its stake in PPL Corp. (NYSE:PPL) by 13.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 526,819 shares of the company’s stock after buying an additional 60,600 shares during the period. Hennessy Advisors Inc.’s holdings in PPL Corp. were worth $18,212,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Panagora Asset Management Inc. boosted its position in shares of PPL Corp. by 11.2% in the first quarter. Panagora Asset Management Inc. now owns 147,707 shares of the company’s stock valued at $5,623,000 after buying an additional 14,852 shares during the last quarter. First Republic Investment Management Inc. boosted its position in shares of PPL Corp. by 12.9% in the first quarter. First Republic Investment Management Inc. now owns 19,617 shares of the company’s stock valued at $747,000 after buying an additional 2,249 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of PPL Corp. during the first quarter valued at about $327,000. Boothbay Fund Management LLC acquired a new position in shares of PPL Corp. during the first quarter valued at about $395,000. Finally, Fulton Bank N.A. boosted its position in shares of PPL Corp. by 6.8% in the second quarter. Fulton Bank N.A. now owns 103,269 shares of the company’s stock valued at $3,899,000 after buying an additional 6,544 shares during the last quarter. Institutional investors own 69.01% of the company’s stock.
PPL Corp. (NYSE:PPL) traded down 0.82% during trading on Wednesday, reaching $33.91. 1,649,406 shares of the company’s stock were exchanged. The stock has a market capitalization of $23.05 billion, a PE ratio of 12.60 and a beta of 0.41. The stock has a 50-day moving average of $33.41 and a 200-day moving average of $35.84. PPL Corp. has a 52 week low of $32.08 and a 52 week high of $39.92.
PPL Corp. (NYSE:PPL) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $2.04 billion. PPL Corp. had a net margin of 24.59% and a return on equity of 15.66%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, equities research analysts anticipate that PPL Corp. will post $2.36 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.45%. PPL Corp.’s payout ratio is 56.30%.
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Several research analysts have issued reports on PPL shares. Credit Suisse Group AG reiterated a “hold” rating and set a $44.00 target price on shares of PPL Corp. in a report on Friday, August 5th. Guggenheim cut shares of PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, August 9th. Jefferies Group dropped their target price on shares of PPL Corp. from $38.00 to $37.00 and set a “hold” rating on the stock in a report on Wednesday, August 10th. 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. Finally, Wolfe Research upgraded shares of PPL Corp. from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 14th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. PPL Corp. presently has a consensus rating of “Hold” and an average target price of $37.71.
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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