Denali Advisors LLC decreased its position in PPL Corp (NYSE:PPL) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,096 shares of the utilities provider’s stock after selling 10,300 shares during the period. PPL accounts for approximately 1.7% of Denali Advisors LLC’s investment portfolio, making the stock its 9th largest position. Denali Advisors LLC owned 0.05% of PPL worth $12,442,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. TRUE Private Wealth Advisors acquired a new position in shares of PPL in the 2nd quarter worth approximately $25,000. Kings Point Capital Management acquired a new position in shares of PPL in the 2nd quarter worth approximately $28,000. Thor Advisors LLC acquired a new position in shares of PPL in the 1st quarter worth approximately $35,000. Kavar Capital Partners LLC acquired a new position in shares of PPL in the 2nd quarter worth approximately $35,000. Finally, Manchester Financial Inc. acquired a new position in shares of PPL in the 2nd quarter worth approximately $38,000. 71.76% of the stock is owned by institutional investors and hedge funds.
Shares of PPL traded up $0.10 during midday trading on Wednesday, reaching $30.31. The stock had a trading volume of 2,711,663 shares, compared to its average volume of 4,408,145. PPL Corp has a 1-year low of $27.31 and a 1-year high of $32.88. The company’s fifty day simple moving average is $30.46 and its two-hundred day simple moving average is $30.68. The company has a market cap of $21.82 billion, a price-to-earnings ratio of 12.63 and a beta of 0.50. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.55 and a quick ratio of 0.48.
PPL (NYSE:PPL) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.02. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.86 billion. PPL had a net margin of 22.97% and a return on equity of 14.57%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. On average, sell-side analysts forecast that PPL Corp will post 2.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 5.44%. The ex-dividend date was Monday, September 9th. PPL’s payout ratio is 68.75%.
A number of equities research analysts have issued reports on PPL shares. Evercore ISI set a $31.00 target price on shares of PPL and gave the stock a “hold” rating in a report on Wednesday, August 7th. Zacks Investment Research upgraded shares of PPL from a “sell” rating to a “hold” rating and set a $32.00 target price on the stock in a report on Wednesday. Morgan Stanley set a $30.00 target price on shares of PPL and gave the stock a “hold” rating in a report on Friday, August 16th. ValuEngine lowered shares of PPL from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Bank of America upgraded shares of PPL from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. PPL currently has an average rating of “Hold” and a consensus price target of $36.60.
In other news, insider Philip Swift sold 3,782 shares of PPL stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $30.26, for a total value of $114,443.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.
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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