IFP Advisors Inc raised its stake in PPL Corporation (NYSE:PPL) by 5.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 41,949 shares of the utilities provider’s stock after buying an additional 2,126 shares during the period. IFP Advisors Inc’s holdings in PPL Corporation were worth $1,622,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of PPL. BlackRock Inc. boosted its position in PPL Corporation by 3,377.9% in the first quarter. BlackRock Inc. now owns 47,999,937 shares of the utilities provider’s stock valued at $1,794,717,000 after buying an additional 46,619,804 shares in the last quarter. FMR LLC boosted its position in PPL Corporation by 11.8% in the first quarter. FMR LLC now owns 17,138,572 shares of the utilities provider’s stock valued at $640,811,000 after buying an additional 1,812,574 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in PPL Corporation by 12.3% in the first quarter. Epoch Investment Partners Inc. now owns 13,918,249 shares of the utilities provider’s stock valued at $520,403,000 after buying an additional 1,524,365 shares in the last quarter. Vanguard Group Inc. boosted its position in PPL Corporation by 3.0% in the first quarter. Vanguard Group Inc. now owns 48,915,860 shares of the utilities provider’s stock valued at $1,828,963,000 after buying an additional 1,416,622 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its position in PPL Corporation by 16.4% in the first quarter. First Eagle Investment Management LLC now owns 5,081,105 shares of the utilities provider’s stock valued at $189,983,000 after buying an additional 714,481 shares during the period. 71.00% of the stock is owned by institutional investors and hedge funds.
Shares of PPL Corporation (PPL) traded up 0.26% on Friday, reaching $38.92. The company’s stock had a trading volume of 2,413,049 shares. The firm has a 50 day moving average of $38.35 and a 200 day moving average of $37.89. The company has a market cap of $26.69 billion, a PE ratio of 16.29 and a beta of 0.49. PPL Corporation has a 52-week low of $32.08 and a 52-week high of $40.20.
PPL Corporation (NYSE:PPL) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. PPL Corporation had a net margin of 22.08% and a return on equity of 15.96%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Analysts predict that PPL Corporation will post $2.15 earnings per share for the current year.
Several equities analysts have commented on PPL shares. Barclays PLC reaffirmed an “equal weight” rating and issued a $41.00 price target (up previously from $38.00) on shares of PPL Corporation in a report on Sunday, April 23rd. Jefferies Group LLC upped their price objective on PPL Corporation from $36.50 to $39.00 and gave the company a “hold” rating in a research note on Monday, April 24th. BidaskClub lowered PPL Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) upgraded PPL Corporation from a “sell” rating to a “neutral” rating and upped their price objective for the company from $35.00 to $38.00 in a research note on Monday, June 26th. Finally, Zacks Investment Research upgraded PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.72.
In related news, VP Joseph P. Bergstein, Jr. sold 2,929 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $38.55, for a total value of $112,912.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vincent Sorgi sold 5,600 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $39.00, for a total transaction of $218,400.00. Following the completion of the sale, the insider now directly owns 97 shares in the company, valued at approximately $3,783. The disclosure for this sale can be found here. In the last three months, insiders sold 19,740 shares of company stock worth $773,067. 0.42% of the stock is currently owned by insiders.
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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