Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in PPL Corp (NYSE:PPL) by 6.0% during the first quarter, Holdings Channel reports. The firm owned 128,906 shares of the utilities provider’s stock after selling 8,289 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in PPL Corp were worth $4,820,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PPL. Parallel Advisors LLC acquired a new position in shares of PPL Corp during the fourth quarter valued at $136,000. Iowa State Bank increased its position in shares of PPL Corp by 3.3% in the first quarter. Iowa State Bank now owns 12,929 shares of the utilities provider’s stock valued at $483,000 after buying an additional 415 shares during the period. Tompkins Financial Corp increased its position in shares of PPL Corp by 114.3% in the first quarter. Tompkins Financial Corp now owns 3,000 shares of the utilities provider’s stock valued at $114,000 after buying an additional 1,600 shares during the period. Gradient Investments LLC increased its position in shares of PPL Corp by 13.2% in the first quarter. Gradient Investments LLC now owns 167,654 shares of the utilities provider’s stock valued at $6,269,000 after buying an additional 19,557 shares during the period. Finally, Deane Retirement Strategies Inc. acquired a new position in shares of PPL Corp during the first quarter valued at $2,638,000. Hedge funds and other institutional investors own 71.29% of the company’s stock.
PPL Corp (NYSE:PPL) traded up 0.39% during mid-day trading on Wednesday, reaching $39.66. The company’s stock had a trading volume of 4,640,081 shares. The stock’s 50 day moving average is $38.77 and its 200 day moving average is $36.26. The firm has a market cap of $27.09 billion, a PE ratio of 14.85 and a beta of 0.45. PPL Corp has a one year low of $32.08 and a one year high of $40.20.
PPL Corp (NYSE:PPL) last issued its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.62. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.03 billion. PPL Corp had a return on equity of 16.76% and a net margin of 25.30%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 earnings per share. On average, analysts anticipate that PPL Corp will post $2.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Wednesday, June 7th. PPL Corp’s payout ratio is 54.48%.
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PPL has been the topic of several research analyst reports. Barclays PLC restated an “equal weight” rating and set a $41.00 target price (up from $38.00) on shares of PPL Corp in a research note on Sunday, April 23rd. Deutsche Bank AG boosted their target price on PPL Corp from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Finally, Jefferies Group LLC boosted their target price on PPL Corp from $36.50 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.00.
In other PPL Corp news, insider Robert A. Symons sold 12,703 shares of the firm’s stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $37.60, for a total transaction of $477,632.80. Following the transaction, the insider now owns 1 shares of the company’s stock, valued at $37.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.
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. PPL operates through U.K.
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