Denali Advisors LLC Sells 10,300 Shares of PPL Corp (NYSE:PPL)
Denali Advisors LLC reduced its position in shares of PPL Corp (NYSE:PPL) by 2.5% during the third quarter, HoldingsChannel reports. The firm owned 395,096 shares of the utilities provider’s stock after selling 10,300 shares during the quarter. PPL comprises about 1.7% of Denali Advisors LLC’s holdings, making the stock its 9th largest holding. Denali Advisors LLC’s holdings in PPL were worth $12,442,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of PPL by 1.6% during the second quarter. BlackRock Inc. now owns 60,048,918 shares of the utilities provider’s stock worth $1,862,119,000 after purchasing an additional 937,714 shares in the last quarter. Vanguard Group Inc. raised its holdings in PPL by 2.7% in the second quarter. Vanguard Group Inc. now owns 59,843,270 shares of the utilities provider’s stock valued at $1,855,739,000 after acquiring an additional 1,548,115 shares in the last quarter. Invesco Ltd. raised its holdings in PPL by 5.0% in the second quarter. Invesco Ltd. now owns 26,097,426 shares of the utilities provider’s stock valued at $809,280,000 after acquiring an additional 1,242,220 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in PPL by 36.5% in the second quarter. Bank of New York Mellon Corp now owns 16,914,524 shares of the utilities provider’s stock valued at $524,518,000 after acquiring an additional 4,523,594 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in PPL by 4.4% in the second quarter. Northern Trust Corp now owns 8,785,602 shares of the utilities provider’s stock valued at $272,442,000 after acquiring an additional 372,921 shares in the last quarter. 71.76% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on PPL. Bank of America raised shares of PPL from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 7th. Evercore ISI set a $31.00 price target on shares of PPL and gave the company a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley set a $30.00 price target on shares of PPL and gave the company a “hold” rating in a report on Friday, August 16th. ValuEngine cut shares of PPL from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, GMP Securities reaffirmed an “average” rating and issued a $59.00 price target on shares of PPL in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. PPL has a consensus rating of “Hold” and a consensus price target of $36.60.
Shares of NYSE:PPL traded up $0.10 on Wednesday, reaching $30.31. 2,711,663 shares of the company’s stock were exchanged, compared to its average volume of 4,408,145. The firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of 12.63 and a beta of 0.50. PPL Corp has a fifty-two week low of $27.31 and a fifty-two week high of $32.88. The business’s 50-day moving average is $30.46 and its two-hundred day moving average is $30.68. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.75.
PPL (NYSE:PPL) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.86 billion. PPL had a net margin of 22.97% and a return on equity of 14.57%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. Analysts predict that PPL Corp will post 2.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.4125 per share. The ex-dividend date was Monday, September 9th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.44%. PPL’s dividend payout ratio (DPR) is 68.75%.
PPL Company Profile
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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