Reilly Financial Advisors LLC reduced its stake in shares of PPL Corp (NYSE:PPL) by 30.8% in the 2nd quarter, Holdings Channel reports. The firm owned 1,430 shares of the utilities provider’s stock after selling 635 shares during the quarter. Reilly Financial Advisors LLC’s holdings in PPL were worth $44,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in PPL. Liberty Wealth Management LLC bought a new position in PPL during the 4th quarter worth $27,000. Private Capital Group LLC raised its position in PPL by 68.6% during the 1st quarter. Private Capital Group LLC now owns 1,111 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 452 shares during the last quarter. Thor Advisors LLC bought a new position in PPL during the 1st quarter worth $35,000. Manchester Financial Inc. bought a new position in PPL during the 2nd quarter worth $38,000. Finally, Resources Investment Advisors Inc. raised its position in PPL by 129.8% during the 1st quarter. Resources Investment Advisors Inc. now owns 1,241 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 701 shares during the last quarter. 72.87% of the stock is owned by institutional investors and hedge funds.
In other news, insider Philip Swift sold 3,782 shares of PPL stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $30.26, for a total value of $114,443.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.
Several brokerages recently issued reports on PPL. UBS Group lowered their target price on PPL from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Mizuho initiated coverage on PPL in a research report on Monday, June 3rd. They issued a “neutral” rating and a $30.00 price objective for the company. Zacks Investment Research raised PPL from a “sell” rating to a “hold” rating and set a $32.00 price objective for the company in a research report on Monday, July 22nd. Raymond James reissued an “average” rating on shares of PPL in a research report on Monday, May 6th. Finally, ValuEngine lowered PPL from a “hold” rating to a “sell” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $33.90.
Shares of PPL stock traded down $0.06 during mid-day trading on Friday, hitting $29.66. The company’s stock had a trading volume of 4,357,284 shares, compared to its average volume of 3,674,489. The stock’s fifty day simple moving average is $30.69. PPL Corp has a 52 week low of $27.31 and a 52 week high of $32.88. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 1.73. The company has a market cap of $21.41 billion, a P/E ratio of 12.36 and a beta of 0.51.
PPL (NYSE:PPL) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.03). PPL had a return on equity of 14.52% and a net margin of 23.79%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the business posted $0.74 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts forecast that PPL Corp will post 2.42 EPS for the current 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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