Wheatland Advisors Inc. decreased its holdings in PPL Corp (NYSE:PPL) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,834 shares of the utilities provider’s stock after selling 5,054 shares during the quarter. PPL accounts for approximately 1.4% of Wheatland Advisors Inc.’s holdings, making the stock its 22nd biggest position. Wheatland Advisors Inc.’s holdings in PPL were worth $1,886,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. First Trust Advisors LP grew its stake in shares of PPL by 102.8% during the 2nd quarter. First Trust Advisors LP now owns 4,170,550 shares of the utilities provider’s stock valued at $129,329,000 after purchasing an additional 2,114,378 shares during the period. LSV Asset Management grew its stake in shares of PPL by 428.5% during the 1st quarter. LSV Asset Management now owns 1,674,000 shares of the utilities provider’s stock valued at $53,132,000 after purchasing an additional 1,357,246 shares during the period. Geode Capital Management LLC grew its stake in shares of PPL by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 10,366,038 shares of the utilities provider’s stock valued at $293,399,000 after purchasing an additional 1,129,588 shares during the period. Janus Henderson Group PLC grew its stake in shares of PPL by 17.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,518,786 shares of the utilities provider’s stock valued at $175,178,000 after purchasing an additional 808,535 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of PPL by 20.4% during the 1st quarter. California Public Employees Retirement System now owns 4,330,832 shares of the utilities provider’s stock valued at $137,461,000 after purchasing an additional 734,286 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:PPL traded down $0.37 during mid-day trading on Friday, reaching $29.45. 3,168,197 shares of the company traded hands, compared to its average volume of 4,154,190. The company’s 50 day moving average price is $29.96 and its 200-day moving average price is $30.96. The firm has a market cap of $21.54 billion, a PE ratio of 12.27 and a beta of 0.51. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.55 and a quick ratio of 0.48. PPL Corp has a 52 week low of $27.31 and a 52 week high of $32.88.
PPL (NYSE:PPL) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. PPL had a return on equity of 14.57% and a net margin of 22.97%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm earned $0.55 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, research analysts predict that PPL Corp will post 2.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be issued a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 5.60%. PPL’s dividend payout ratio is presently 68.75%.
In related news, insider Philip Swift sold 3,782 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $30.26, for a total value of $114,443.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is currently owned by insiders.
A number of research analysts recently issued reports on the company. ValuEngine downgraded PPL from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Mizuho assumed coverage on PPL in a research note on Monday, June 3rd. They set a “neutral” rating and a $30.00 price objective for the company. Zacks Investment Research upgraded PPL from a “sell” rating to a “hold” rating and set a $32.00 price objective for the company in a research note on Monday, July 22nd. UBS Group cut their price objective on PPL from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Finally, Evercore ISI set a $31.00 price objective on PPL and gave the company a “hold” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $36.27.
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.
See Also: How does a reverse stock split work?
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).
Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.