BB&T Corp boosted its position in PPL Corporation (NYSE:PPL) by 4.3% during the second quarter, Holdings Channel reports. The fund owned 185,257 shares of the utilities provider’s stock after buying an additional 7,636 shares during the period. BB&T Corp’s holdings in PPL Corporation were worth $7,163,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Tompkins Financial Corp increased its position in shares of PPL Corporation by 114.3% in the first quarter. Tompkins Financial Corp now owns 3,000 shares of the utilities provider’s stock worth $114,000 after buying an additional 1,600 shares during the last quarter. Kistler Tiffany Companies LLC increased its position in shares of PPL Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 4,084 shares of the utilities provider’s stock worth $153,000 after buying an additional 15 shares during the last quarter. Parallel Advisors LLC increased its position in shares of PPL Corporation by 6.1% in the first quarter. Parallel Advisors LLC now owns 4,249 shares of the utilities provider’s stock worth $161,000 after buying an additional 243 shares during the last quarter. Focused Wealth Management Inc increased its position in shares of PPL Corporation by 352.0% in the first quarter. Focused Wealth Management Inc now owns 4,366 shares of the utilities provider’s stock worth $163,000 after buying an additional 3,400 shares during the last quarter. Finally, Perigon Wealth Management LLC purchased a new position in shares of PPL Corporation during the fourth quarter worth about $165,000. 71.03% of the stock is currently owned by hedge funds and other institutional investors.
PPL Corporation (NYSE:PPL) traded up 0.81% during mid-day trading on Friday, reaching $38.55. 2,791,627 shares of the company’s stock traded hands. The stock’s 50 day moving average is $38.79 and its 200-day moving average is $37.30. PPL Corporation has a 52 week low of $32.08 and a 52 week high of $40.20. The stock has a market capitalization of $26.34 billion, a PE ratio of 14.44 and a beta of 0.50.
PPL Corporation (NYSE:PPL) last announced its earnings results on Thursday, May 4th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.62. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.03 billion. PPL Corporation had a net margin of 24.46% and a return on equity of 16.28%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. On average, equities analysts anticipate that PPL Corporation will post $2.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 9th were given a $0.395 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $1.58 dividend on an annualized basis and a yield of 4.10%. PPL Corporation’s dividend payout ratio (DPR) is 59.18%.
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A number of research analysts have recently issued reports on PPL shares. Jefferies Group LLC raised shares of PPL Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $39.50 to $42.00 in a research report on Wednesday. Zacks Investment Research raised shares of PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Wednesday, July 12th. Barclays PLC reaffirmed an “equal weight” rating and issued a $41.00 price objective (up previously from $38.00) on shares of PPL Corporation in a research report on Sunday, April 23rd. BidaskClub downgraded shares of PPL Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Deutsche Bank AG lifted their price objective on shares of PPL Corporation from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. PPL Corporation presently has an average rating of “Hold” and a consensus price target of $39.10.
In related news, insider Gregory N. Dudkin sold 8,228 shares of PPL Corporation stock in a transaction on Monday, June 19th. The shares were sold at an average price of $39.55, for a total value of $325,417.40. Following the transaction, the insider now directly owns 39,693 shares in the company, valued at approximately $1,569,858.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.42% of the company’s stock.
About PPL Corporation
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
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