First Trust Advisors LP raised its holdings in shares of PPL Corp (NYSE:PPL) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,595,088 shares of the utilities provider’s stock after acquiring an additional 424,538 shares during the period. First Trust Advisors LP’s holdings in PPL were worth $144,699,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in PPL. Bartlett & Co. LLC raised its stake in shares of PPL by 100.0% in the 3rd quarter. Bartlett & Co. LLC now owns 800 shares of the utilities provider’s stock worth $25,000 after buying an additional 400 shares in the last quarter. TRUE Private Wealth Advisors bought a new stake in shares of PPL in the 2nd quarter worth $25,000. Kings Point Capital Management bought a new stake in shares of PPL in the 2nd quarter worth $28,000. Venturi Wealth Management LLC bought a new stake in shares of PPL in the 3rd quarter worth $35,000. Finally, Kavar Capital Partners LLC bought a new stake in shares of PPL in the 2nd quarter worth $35,000. 71.46% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on PPL. Macquarie raised PPL from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $27.00 to $32.50 in a research note on Wednesday, October 23rd. Zacks Investment Research raised PPL from a “sell” rating to a “hold” rating and set a $34.00 price objective on the stock in a research note on Tuesday, October 15th. Evercore ISI set a $31.00 price objective on PPL and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Bank of America raised PPL from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, Citigroup boosted their target price on PPL from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.13.
In other PPL news, EVP Joanne H. Raphael sold 21,288 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $31.91, for a total value of $679,300.08. Following the transaction, the executive vice president now owns 46,857 shares in the company, valued at $1,495,206.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Spence sold 388,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $33.57, for a total value of $13,025,160.00. The disclosure for this sale can be found here. Insiders sold 624,308 shares of company stock worth $20,800,120 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.
NYSE PPL traded up $0.47 on Friday, reaching $33.72. The stock had a trading volume of 7,012,455 shares, compared to its average volume of 4,562,918. The business has a 50 day moving average price of $32.06 and a 200 day moving average price of $30.80. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.75. PPL Corp has a 1 year low of $27.31 and a 1 year high of $33.83. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 14.05 and a beta of 0.49.
PPL (NYSE:PPL) last issued its earnings results on Tuesday, November 5th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). PPL had a net margin of 23.17% and a return on equity of 14.72%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts anticipate that PPL Corp will post 2.43 earnings per share for the current fiscal year.
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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