5,792 Shares in PPL Corp (PPL) Acquired by Farmers Trust Co.

Farmers Trust Co. bought a new position in shares of PPL Corp (NYSE:PPL) during the first quarter, Holdings Channel reports. The firm bought 5,792 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Commonwealth Equity Services Inc raised its stake in PPL Corp by 2.6% in the third quarter. Commonwealth Equity Services Inc now owns 123,041 shares of the company’s stock worth $4,254,000 after buying an additional 3,060 shares during the period. Conning Inc. raised its stake in PPL Corp by 5.2% in the third quarter. Conning Inc. now owns 20,611 shares of the company’s stock worth $713,000 after buying an additional 1,010 shares during the period. Mercer Capital Advisers Inc. raised its stake in PPL Corp by 1.0% in the third quarter. Mercer Capital Advisers Inc. now owns 10,101 shares of the company’s stock worth $349,000 after buying an additional 104 shares during the period. Gilman Hill Asset Management LLC raised its stake in PPL Corp by 3.8% in the third quarter. Gilman Hill Asset Management LLC now owns 107,072 shares of the company’s stock worth $3,701,000 after buying an additional 3,955 shares during the period. Finally, Wagner Bowman Management Corp raised its stake in PPL Corp by 395.8% in the third quarter. Wagner Bowman Management Corp now owns 27,361 shares of the company’s stock worth $945,000 after buying an additional 21,843 shares during the period. 71.29% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of PPL Corp (NYSE:PPL) traded down 0.066% during mid-day trading on Thursday, hitting $37.755. The company’s stock had a trading volume of 1,206,922 shares. PPL Corp has a 1-year low of $32.08 and a 1-year high of $39.92. The company has a 50-day moving average of $37.01 and a 200 day moving average of $34.82. The company has a market cap of $25.70 billion, a price-to-earnings ratio of 13.532 and a beta of 0.45.

PPL Corp (NYSE:PPL) last released its earnings results on Wednesday, February 1st. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. PPL Corp had a return on equity of 16.76% and a net margin of 25.30%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. PPL Corp’s revenue was up 2.9% on a year-over-year basis. On average, analysts expect that PPL Corp will post $2.16 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Friday, March 10th were issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 4.18%. The ex-dividend date was Wednesday, March 8th. This is a positive change from PPL Corp’s previous quarterly dividend of $0.38. PPL Corp’s dividend payout ratio is presently 54.48%.

TRADEMARK VIOLATION WARNING: This report was first published by sleekmoney and is owned by of sleekmoney. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at http://sleekmoney.com/5792-shares-in-ppl-corp-ppl-acquired-by-farmers-trust-co/1739085.html.

A number of analysts have issued reports on the company. Deutsche Bank AG raised their target price on PPL Corp from $36.00 to $38.00 and gave the company a “hold” rating in a report on Tuesday. Barclays PLC reaffirmed a “hold” rating and issued a $38.00 target price on shares of PPL Corp in a report on Thursday, February 2nd. Jefferies Group LLC raised their target price on PPL Corp from $35.00 to $36.50 and gave the company a “hold” rating in a report on Thursday, February 2nd. Argus reaffirmed a “buy” rating and issued a $39.00 target price (up previously from $2.00) on shares of PPL Corp in a report on Tuesday, December 20th. Finally, Goldman Sachs Group Inc lowered PPL Corp from a “neutral” rating to a “sell” rating and lowered their target price for the company from $34.00 to $33.00 in a report on Tuesday, January 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $37.45.

In related news, insider Robert A. Symons sold 12,703 shares of the company’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 sale, the insider now owns 1 shares in the company, valued at $37.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gregory N. Dudkin sold 10,231 shares of the company’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $34.57, for a total value of $353,685.67. Following the sale, the insider now owns 33,065 shares in the company, valued at approximately $1,143,057.05. The disclosure for this sale can be found here. Insiders have sold 157,521 shares of company stock worth $5,621,198 in the last quarter. 0.42% of the stock is currently owned by corporate insiders.

About PPL Corp

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.

5 Day Chart for NYSE:PPL

Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corp (NYSE:PPL).

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/5792-shares-in-ppl-corp-ppl-acquired-by-farmers-trust-co/1739085.html

Receive News & Ratings for PPL Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL Corp and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *