Lakeview Capital Partners LLC bought a new position in PPL Corp (NYSE:PPL) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,554 shares of the utilities provider’s stock, valued at approximately $203,000.
Several other institutional investors and hedge funds have also bought and sold shares of PPL. TRUE Private Wealth Advisors acquired a new stake in shares of PPL in the 2nd quarter worth about $25,000. Private Capital Group LLC raised its holdings in shares of PPL by 68.6% in the 1st quarter. Private Capital Group LLC now owns 1,111 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 452 shares during the last quarter. Thor Advisors LLC acquired a new stake in shares of PPL in the 1st quarter worth about $35,000. Kavar Capital Partners LLC acquired a new stake in shares of PPL in the 2nd quarter worth about $35,000. Finally, Manchester Financial Inc. acquired a new stake in shares of PPL in the 2nd quarter worth about $38,000. Institutional investors own 71.34% of the company’s stock.
NYSE:PPL traded down $0.03 on Wednesday, hitting $29.51. The stock had a trading volume of 33,464 shares, compared to its average volume of 4,252,959. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.48 and a current ratio of 0.55. The stock has a market cap of $21.24 billion, a P/E ratio of 12.31 and a beta of 0.51. PPL Corp has a 1 year low of $27.31 and a 1 year high of $32.88. The firm’s fifty day simple moving average is $30.04 and its two-hundred day simple moving average is $30.98.
PPL (NYSE:PPL) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. PPL had a net margin of 22.97% and a return on equity of 14.57%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $0.55 EPS. PPL’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts predict that PPL Corp will post 2.42 EPS for the current year.
In other news, insider Philip Swift sold 3,782 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $30.26, for a total transaction of $114,443.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Bank of America upgraded shares of PPL from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley set a $30.00 price objective on shares of PPL and gave the company a “hold” rating in a research note on Friday, August 16th. ValuEngine lowered shares of PPL from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. UBS Group decreased their price objective on shares of PPL from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Finally, Raymond James reiterated an “average” rating on shares of PPL in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $35.75.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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