Hennessy Advisors Inc. lessened its holdings in PPL Corp (NYSE:PPL) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 260,919 shares of the utilities provider’s stock after selling 9,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in PPL were worth $9,362,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PPL. Tiedemann Advisors LLC raised its position in shares of PPL by 13.1% in the 3rd quarter. Tiedemann Advisors LLC now owns 228,687 shares of the utilities provider’s stock valued at $7,288,000 after acquiring an additional 26,548 shares during the period. Nomura Holdings Inc. raised its holdings in PPL by 1,052.9% during the 3rd quarter. Nomura Holdings Inc. now owns 137,479 shares of the utilities provider’s stock worth $4,304,000 after buying an additional 125,554 shares during the period. EP Wealth Advisors LLC raised its holdings in PPL by 5.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 23,276 shares of the utilities provider’s stock worth $733,000 after buying an additional 1,177 shares during the period. Stephens Inc. AR raised its holdings in PPL by 4.8% during the 3rd quarter. Stephens Inc. AR now owns 175,409 shares of the utilities provider’s stock worth $5,524,000 after buying an additional 8,102 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in PPL by 1.2% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 842,456 shares of the utilities provider’s stock worth $26,126,000 after buying an additional 9,902 shares during the period. 70.66% of the stock is currently owned by institutional investors.
Shares of NYSE:PPL traded down $0.13 during midday trading on Tuesday, hitting $35.30. The stock had a trading volume of 1,159,147 shares, compared to its average volume of 4,230,827. PPL Corp has a 12 month low of $28.53 and a 12 month high of $36.28. The company has a quick ratio of 0.58, a current ratio of 0.66 and a debt-to-equity ratio of 1.81. The business’s 50-day simple moving average is $35.07 and its 200-day simple moving average is $32.11. The company has a market cap of $25.62 billion, a P/E ratio of 14.71 and a beta of 0.51.
PPL (NYSE:PPL) last released its earnings results on Tuesday, November 5th. The utilities provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.01). PPL had a net margin of 23.17% and a return on equity of 14.73%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the business posted $0.59 earnings per share. PPL’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts predict that PPL Corp will post 2.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were paid a $0.4125 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.65 annualized dividend and a dividend yield of 4.67%. PPL’s dividend payout ratio is presently 68.75%.
In other PPL news, CEO William H. Spence sold 388,968 shares of PPL stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $34.32, for a total transaction of $13,349,381.76. Also, COO Vincent Sorgi sold 13,696 shares of PPL stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.04, for a total transaction of $466,211.84. Following the transaction, the chief operating officer now directly owns 30,976 shares of the company’s stock, valued at $1,054,423.04. The disclosure for this sale can be found here. Insiders sold 1,005,684 shares of company stock valued at $33,936,414 over the last three months. 0.34% of the stock is owned by company insiders.
PPL has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of PPL from a “sell” rating to a “hold” rating and set a $34.00 target price on the stock in a report on Tuesday, October 15th. ValuEngine downgraded shares of PPL from a “hold” rating to a “sell” rating in a report on Thursday, December 19th. Wells Fargo & Co assumed coverage on shares of PPL in a research note on Thursday, December 19th. They set an “equal weight” rating and a $50.00 price target for the company. Guggenheim raised shares of PPL from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 7th. Finally, SunTrust Banks raised their price target on shares of PPL from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.13.
PPL Company Profile
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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