Traders Sell PPL Corporation (PPL) on Strength (PPL)
Traders sold shares of PPL Corporation (NYSE:PPL) on strength during trading hours on Friday. $9.71 million flowed into the stock on the tick-up and $40.26 million flowed out of the stock on the tick-down, for a money net flow of $30.55 million out of the stock. Of all stocks tracked, PPL Corporation had the 0th highest net out-flow for the day. PPL Corporation traded up $0.02 for the day and closed at $37.32
Several brokerages recently weighed in on PPL. Zacks Investment Research downgraded PPL Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 11th. ValuEngine raised PPL Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub downgraded PPL Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) raised PPL Corporation from a “sell” rating to a “neutral” rating and increased their price target for the stock from $35.00 to $38.00 in a report on Monday, June 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $43.50 price target (up from $42.00) on shares of PPL Corporation in a report on Wednesday, August 9th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.94.
The stock has a 50-day moving average of $38.81 and a 200-day moving average of $38.55. The firm has a market capitalization of $25.60 billion, a PE ratio of 15.62 and a beta of 0.49.
PPL Corporation (NYSE:PPL) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts expect that PPL Corporation will post $2.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were given a dividend of $0.395 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.58 dividend on an annualized basis and a yield of 4.23%. PPL Corporation’s dividend payout ratio is currently 66.11%.
In other PPL Corporation news, VP Joseph P. Bergstein, Jr. sold 2,929 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $38.55, for a total transaction of $112,912.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joanne H. Raphael sold 35,651 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $39.50, for a total value of $1,408,214.50. Following the transaction, the senior vice president now owns 52,450 shares of the company’s stock, valued at approximately $2,071,775. The disclosure for this sale can be found here. Insiders have sold a total of 47,163 shares of company stock valued at $1,855,864 in the last 90 days. Insiders own 0.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Valley National Advisers Inc. boosted its position in PPL Corporation by 3.2% during the 1st quarter. Valley National Advisers Inc. now owns 57,783 shares of the utilities provider’s stock worth $2,161,000 after acquiring an additional 1,795 shares during the period. Chemical Bank boosted its position in PPL Corporation by 15.0% during the 2nd quarter. Chemical Bank now owns 63,026 shares of the utilities provider’s stock worth $2,437,000 after acquiring an additional 8,240 shares during the period. Bank of Nova Scotia boosted its position in PPL Corporation by 924.3% during the 1st quarter. Bank of Nova Scotia now owns 156,210 shares of the utilities provider’s stock worth $5,840,000 after acquiring an additional 140,960 shares during the period. BB&T Corp boosted its position in PPL Corporation by 4.3% during the 2nd quarter. BB&T Corp now owns 185,257 shares of the utilities provider’s stock worth $7,163,000 after acquiring an additional 7,636 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in PPL Corporation by 53.6% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 18,129 shares of the utilities provider’s stock worth $678,000 after acquiring an additional 6,329 shares during the period. Institutional investors own 71.01% of the company’s stock.
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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