North Point Portfolio Managers Corp OH continued to hold its stake in PPL Corporation (NYSE:PPL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,700 shares of the utilities provider’s stock at the end of the second quarter. North Point Portfolio Managers Corp OH’s holdings in PPL Corporation were worth $298,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in PPL. Tompkins Financial Corp increased its stake in 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 in the last quarter. Kistler Tiffany Companies LLC increased its stake in 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 in the last quarter. Parallel Advisors LLC increased its stake in 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 in the last quarter. Focused Wealth Management Inc increased its stake in 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 in the last quarter. Finally, Perigon Wealth Management LLC purchased a new stake in PPL Corporation during the fourth quarter worth about $165,000. 71.10% of the stock is owned by institutional investors and hedge funds.
Shares of PPL Corporation (NYSE PPL) opened at 38.18 on Monday. The company has a market cap of $26.08 billion, a price-to-earnings ratio of 14.30 and a beta of 0.50. PPL Corporation has a 1-year low of $32.08 and a 1-year high of $40.20. The company’s 50-day moving average price is $38.51 and its 200 day moving average price is $37.45.
PPL Corporation (NYSE:PPL) last issued its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.62. PPL Corporation had a return on equity of 16.28% and a net margin of 24.46%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $0.67 EPS. PPL Corporation’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts predict that PPL Corporation will post $2.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 9th were paid 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 4.14%. PPL Corporation’s payout ratio is presently 59.18%.
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PPL has been the subject of a number of recent research reports. Jefferies Group LLC raised PPL Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $39.50 to $42.00 in a research report on Wednesday, July 19th. Zacks Investment Research raised PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Wednesday, July 12th. Barclays PLC reaffirmed an “equal weight” rating and issued a $41.00 price target (up from $38.00) on shares of PPL Corporation in a report on Sunday, April 23rd. BidaskClub lowered PPL Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Deutsche Bank AG raised their price target on PPL Corporation from $36.00 to $38.00 and gave the stock a “hold” rating in a 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 given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $39.10.
In other PPL Corporation news, insider Gregory N. Dudkin sold 8,228 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $39.55, for a total value of $325,417.40. Following the completion of the sale, the insider now owns 39,693 shares in the company, valued at approximately $1,569,858.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Joseph P. Bergstein, Jr. sold 2,929 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $38.55, for a total value of $112,912.95. The disclosure for this sale can be found here. Corporate 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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