Concert Wealth Management Inc. boosted its stake in shares of PPL Corp. (NYSE:PPL) by 69.8% during the second quarter, Holdings Channel reports. The fund owned 16,444 shares of the company’s stock after buying an additional 6,762 shares during the period. Concert Wealth Management Inc.’s holdings in PPL Corp. were worth $625,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its position in PPL Corp. by 0.3% in the second quarter. JFS Wealth Advisors LLC now owns 5,712 shares of the company’s stock worth $216,000 after buying an additional 16 shares in the last quarter. Essex Financial Services Inc. increased its position in PPL Corp. by 0.5% in the second quarter. Essex Financial Services Inc. now owns 6,526 shares of the company’s stock worth $246,000 after buying an additional 34 shares in the last quarter. Pure Financial Advisors Inc. increased its position in PPL Corp. by 1.0% in the second quarter. Pure Financial Advisors Inc. now owns 7,221 shares of the company’s stock worth $273,000 after buying an additional 72 shares in the last quarter. Union Bankshares Corp increased its position in PPL Corp. by 1.0% in the second quarter. Union Bankshares Corp now owns 9,247 shares of the company’s stock worth $349,000 after buying an additional 95 shares in the last quarter. Finally, Mercer Capital Advisers Inc. increased its position in PPL Corp. by 1.0% in the second quarter. Mercer Capital Advisers Inc. now owns 9,997 shares of the company’s stock worth $377,000 after buying an additional 100 shares in the last quarter. 69.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of PPL Corp. (NYSE:PPL) traded down 0.62% on Tuesday, reaching $32.31. 1,937,017 shares of the company’s stock traded hands. The company’s 50-day moving average is $34.55 and its 200-day moving average is $36.87. The firm has a market capitalization of $21.91 billion, a P/E ratio of 12.53 and a beta of 0.38. PPL Corp. has a 52 week low of $32.08 and a 52 week high of $39.92.
PPL Corp. (NYSE:PPL) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. The business earned $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. PPL Corp. had a net margin of 23.56% and a return on equity of 14.77%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. Equities research analysts anticipate that PPL Corp. will post $2.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.68%. The ex-dividend date was Wednesday, September 7th. PPL Corp.’s dividend payout ratio is currently 58.69%.
A number of equities analysts have weighed in on PPL shares. Barclays PLC cut their price target on shares of PPL Corp. from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Wolfe Research raised shares of PPL Corp. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 14th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $44.00 price target on shares of PPL Corp. in a research note on Friday, August 5th. Vetr raised shares of PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Thursday, July 14th. Finally, Argus cut their price target on shares of PPL Corp. from $45.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, September 9th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $37.86.
About PPL Corp.
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. It operates through three segments: U.K.
Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corp. (NYSE:PPL).
Receive News & Ratings for PPL Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL Corp. and related companies with MarketBeat.com's FREE daily email newsletter.