Teacher Retirement System of Texas increased its stake in shares of PPL Corp. (NYSE:PPL) by 31.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,232 shares of the company’s stock after buying an additional 11,648 shares during the period. Teacher Retirement System of Texas’ holdings in PPL Corp. were worth $1,821,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. QCI Asset Management Inc. NY boosted its stake in PPL Corp. by 1.8% in the second quarter. QCI Asset Management Inc. NY now owns 3,100 shares of the company’s stock valued at $117,000 after buying an additional 55 shares during the last quarter. Kistler Tiffany Companies LLC boosted its position in shares of PPL Corp. by 97.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,040 shares of the company’s stock worth $153,000 after buying an additional 1,991 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its position in shares of PPL Corp. by 18.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 4,474 shares of the company’s stock worth $169,000 after buying an additional 683 shares in the last quarter. CapWealth Advisors LLC boosted its position in shares of PPL Corp. by 7.0% in the first quarter. CapWealth Advisors LLC now owns 4,860 shares of the company’s stock worth $185,000 after buying an additional 319 shares in the last quarter. Finally, FTB Advisors Inc. boosted its position in shares of PPL Corp. by 3.3% in the second quarter. FTB Advisors Inc. now owns 5,071 shares of the company’s stock worth $191,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 69.52% of the company’s stock.
Shares of PPL Corp. (NYSE:PPL) traded down 0.50% during mid-day trading on Friday, hitting $35.64. 1,730,203 shares of the company were exchanged. PPL Corp. has a 12-month low of $31.42 and a 12-month high of $39.92. The company’s 50-day moving average price is $35.23 and its 200-day moving average price is $37.10. The firm has a market capitalization of $24.17 billion, a P/E ratio of 13.82 and a beta of 0.35.
PPL Corp. (NYSE:PPL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. The firm earned $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. PPL Corp. had a net margin of 23.56% and a return on equity of 14.77%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 EPS. Equities research analysts predict that PPL Corp. will post $2.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Wednesday, September 7th. PPL Corp.’s dividend payout ratio is currently 58.69%.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of PPL Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Hilliard Lyons cut shares of PPL Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Jefferies Group cut shares of PPL Corp. from a “buy” rating to a “hold” rating and cut their price target for the stock from $41.50 to $38.00 in a research note on Thursday, July 14th. Guggenheim cut shares of PPL Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 9th. Finally, Argus cut their price target on shares of PPL Corp. from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, September 9th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $37.86.
In other news, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $37.06, for a total transaction of $58,591.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert A. Symons sold 13,901 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $37.40, for a total transaction of $519,897.40. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.
PPL Corp. Company Profile
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.
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