PPL Corporation (NYSE:PPL) Shares Sold by Prepared Retirement Institute LLC
by Danessa Lincoln · The Markets DailyPrepared Retirement Institute LLC trimmed its holdings in shares of PPL Corporation (NYSE:PPL – Free Report) by 20.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,770 shares of the utilities provider’s stock after selling 2,577 shares during the period. Prepared Retirement Institute LLC’s holdings in PPL were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in the business. Pinnacle Bancorp Inc. raised its position in shares of PPL by 141.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 423 shares in the last quarter. Summit Securities Group LLC purchased a new position in PPL in the fourth quarter valued at approximately $26,000. TruNorth Capital Management LLC purchased a new position in PPL in the first quarter valued at approximately $32,000. HM Payson & Co. raised its holdings in PPL by 1,057.6% during the first quarter. HM Payson & Co. now owns 984 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 899 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of PPL during the 4th quarter worth approximately $32,000. 76.99% of the stock is owned by institutional investors and hedge funds.
PPL Stock Down 0.1%
Shares of NYSE:PPL opened at $34.28 on Monday. The stock has a market cap of $25.34 billion, a P/E ratio of 25.39, a P/E/G ratio of 2.52 and a beta of 0.64. The firm has a fifty day moving average price of $34.28 and a 200 day moving average price of $34.25. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.68. PPL Corporation has a 1-year low of $27.93 and a 1-year high of $36.70.
PPL (NYSE:PPL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.07. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.15 billion. PPL had a net margin of 11.49% and a return on equity of 9.14%. PPL’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS. Sell-side analysts predict that PPL Corporation will post 1.83 EPS for the current year.
PPL Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Tuesday, June 10th. PPL’s dividend payout ratio (DPR) is presently 80.74%.
Analyst Ratings Changes
A number of research firms recently commented on PPL. UBS Group increased their target price on shares of PPL from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Guggenheim raised their price objective on PPL from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Morgan Stanley cut their target price on PPL from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 18th. Barclays raised PPL from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 7th. Finally, Wall Street Zen raised PPL from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $36.70.
Read Our Latest Analysis on PPL
Insider Activity at PPL
In other news, COO David J. Bonenberger sold 1,767 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $34.98, for a total value of $61,809.66. Following the completion of the sale, the chief operating officer owned 45,485 shares in the company, valued at approximately $1,591,065.30. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.
About PPL
PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.
See Also
- Five stocks we like better than PPL
- What Are Dividend Challengers?
- 3 Small Caps Drawing Insider and Institutional Support
- What is diluted earnings per share (Diluted EPS)?
- Analysts Bet Big on Uber Stock’s Expansion in Autonomous Driving
- What is a support level?
- 3 Catalysts Converge on Intel Ahead of a Critical Earnings Report
Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corporation (NYSE:PPL – Free Report).