HBK Investments L P purchased a new position in shares of PPL Corp (NYSE:PPL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 219,400 shares of the utilities provider’s stock, valued at approximately $6,790,000.
Other large investors have also recently added to or reduced their stakes in the company. Cutler Capital Management LLC acquired a new position in PPL during the third quarter worth $114,000. Taylor Hoffman Wealth Management acquired a new position in PPL during the fourth quarter worth $124,000. Cerebellum GP LLC acquired a new position in PPL during the fourth quarter worth $128,000. Crewe Advisors LLC acquired a new position in PPL during the fourth quarter worth $133,000. Finally, Calton & Associates Inc. acquired a new position in PPL during the fourth quarter worth $156,000. Institutional investors own 71.50% of the company’s stock.
In other PPL news, insider Vincent Sorgi sold 10,274 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $31.54, for a total value of $324,041.96. Following the sale, the insider now directly owns 3,406 shares in the company, valued at $107,425.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joanne H. Raphael sold 5,045 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $31.60, for a total value of $159,422.00. Following the completion of the sale, the senior vice president now owns 24,080 shares in the company, valued at $760,928. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,978 shares of company stock worth $1,652,939. 0.40% of the stock is owned by insiders.
PPL (NYSE:PPL) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.07. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.03 billion. PPL had a return on equity of 14.75% and a net margin of 15.15%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. analysts anticipate that PPL Corp will post 2.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be paid a $0.41 dividend. This is a boost from PPL’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 5.87%. The ex-dividend date is Thursday, March 8th. PPL’s dividend payout ratio (DPR) is presently 100.00%.
A number of research analysts have commented on the company. SunTrust Banks set a $37.00 price target on PPL and gave the stock a “buy” rating in a research note on Monday, February 12th. ValuEngine upgraded PPL from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research upgraded PPL from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, December 12th. Royal Bank of Canada upgraded PPL from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $28.32 to $33.00 in a research note on Tuesday, March 6th. Finally, Guggenheim restated a “hold” rating and set a $32.00 price target on shares of PPL in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $37.50.
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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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