PPL Corporation (PPL) Stake Lifted by Advisory Services Network LLC

Advisory Services Network LLC lifted its holdings in shares of PPL Corporation (NYSE:PPL) by 84.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,838 shares of the utilities provider’s stock after purchasing an additional 28,249 shares during the quarter. Advisory Services Network LLC’s holdings in PPL Corporation were worth $2,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PPL. Schafer Cullen Capital Management Inc. grew its holdings in shares of PPL Corporation by 51.4% during the first quarter. Schafer Cullen Capital Management Inc. now owns 606,430 shares of the utilities provider’s stock worth $22,674,000 after purchasing an additional 205,826 shares in the last quarter. BB&T Securities LLC grew its holdings in shares of PPL Corporation by 7.3% during the first quarter. BB&T Securities LLC now owns 327,354 shares of the utilities provider’s stock worth $12,240,000 after purchasing an additional 22,316 shares in the last quarter. LMR Partners LLP purchased a new position in shares of PPL Corporation during the first quarter worth about $500,000. ZWJ Investment Counsel Inc. purchased a new position in shares of PPL Corporation during the first quarter worth about $278,000. Finally, Van ECK Associates Corp grew its holdings in shares of PPL Corporation by 18.0% during the first quarter. Van ECK Associates Corp now owns 5,877 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 898 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

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Shares of PPL Corporation (PPL) traded down 2.11% during mid-day trading on Friday, reaching $37.56. The company’s stock had a trading volume of 4,771,542 shares. PPL Corporation has a 12-month low of $32.46 and a 12-month high of $40.20. The stock has a market capitalization of $25.76 billion, a P/E ratio of 15.72 and a beta of 0.49. The company’s 50-day moving average price is $38.59 and its 200-day moving average price is $38.57.

PPL Corporation (NYSE:PPL) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. On average, equities research analysts forecast that PPL Corporation will post $2.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Thursday, September 7th. PPL Corporation’s dividend payout ratio is presently 66.11%.

In other PPL Corporation news, insider Vincent Sorgi sold 5,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $39.00, for a total transaction of $218,400.00. Following the completion of the transaction, the insider now owns 97 shares in the company, valued at approximately $3,783. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joanne H. Raphael sold 35,651 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were 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. 0.40% of the stock is currently owned by company insiders.

PPL has been the subject of several recent analyst reports. Zacks Investment Research lowered PPL Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Jefferies Group LLC raised PPL Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $39.50 to $42.00 in a report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) raised PPL Corporation from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $38.00 in a report on Monday, June 26th. BidaskClub lowered PPL Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, ValuEngine raised PPL Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $39.35.

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.

Institutional Ownership by Quarter for PPL Corporation (NYSE:PPL)

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