PPL Corporation (PPL) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS
PPL Corporation (NYSE:PPL) released its earnings results on Thursday. The utilities provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02, Bloomberg Earnings reports. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. PPL Corporation updated its FY17 guidance to $2.05-2.25 EPS.
Shares of PPL Corporation (NYSE:PPL) traded down 0.82% during trading on Friday, reaching $38.79. The company’s stock had a trading volume of 2,562,044 shares. The company has a market capitalization of $26.50 billion, a PE ratio of 14.53 and a beta of 0.49. The stock has a 50 day moving average of $38.48 and a 200-day moving average of $37.55. PPL Corporation has a 1-year low of $32.08 and a 1-year high of $40.20.
Several research firms have recently weighed in on PPL. BidaskClub downgraded PPL Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Jefferies Group LLC raised PPL Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $39.50 to $42.00 in a research report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) raised PPL Corporation from a “sell” rating to a “neutral” rating and boosted their target price for the company from $35.00 to $38.00 in a research report on Monday, June 26th. Barclays PLC reissued an “equal weight” rating and set a $41.00 target price (up previously from $38.00) on shares of PPL Corporation in a research report on Sunday, April 23rd. Finally, Deutsche Bank AG boosted their target price on PPL Corporation from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.10.
In other PPL Corporation news, insider Gregory N. Dudkin sold 8,228 shares of PPL Corporation stock in a transaction on Monday, June 19th. The stock was sold at an average price of $39.55, for a total value of $325,417.40. Following the sale, the insider now owns 39,693 shares in the company, valued at $1,569,858.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph P. Bergstein, Jr. sold 2,929 shares of PPL Corporation stock in a transaction on Monday, July 24th. The shares were sold at an average price of $38.55, for a total value of $112,912.95. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Gradient Investments LLC boosted its stake in shares of PPL Corporation by 13.2% in the first quarter. Gradient Investments LLC now owns 167,654 shares of the utilities provider’s stock worth $6,269,000 after buying an additional 19,557 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of PPL Corporation by 22.5% in the first quarter. Bank of Montreal Can now owns 2,112,466 shares of the utilities provider’s stock worth $78,986,000 after buying an additional 388,443 shares during the last quarter. National Pension Service boosted its stake in shares of PPL Corporation by 6.2% in the first quarter. National Pension Service now owns 544,521 shares of the utilities provider’s stock worth $20,278,000 after buying an additional 31,962 shares during the last quarter. Country Club Trust Company n.a. boosted its stake in shares of PPL Corporation by 3.5% in the first quarter. Country Club Trust Company n.a. now owns 206,263 shares of the utilities provider’s stock worth $7,712,000 after buying an additional 7,009 shares during the last quarter. Finally, Dynamic Advisors Solutions LLC boosted its stake in shares of PPL Corporation by 82.7% in the first quarter. Dynamic Advisors Solutions LLC now owns 111,249 shares of the utilities provider’s stock worth $4,160,000 after buying an additional 50,373 shares during the last quarter. 71.10% of the stock is owned by institutional investors and hedge funds.
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PPL Corporation 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. PPL operates through U.K.
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