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.
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%.
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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.
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