PPL Corporation (NYSE:PPL) insider Vincent Sorgi sold 5,600 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $39.00, for a total transaction of $218,400.00. Following the sale, the insider now owns 97 shares of the company’s stock, valued at approximately $3,783. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of PPL Corporation (PPL) traded up 0.26% on Friday, reaching $38.92. 2,413,049 shares of the company’s stock were exchanged. The stock has a market cap of $26.69 billion, a P/E ratio of 16.29 and a beta of 0.49. The company’s 50 day moving average price is $38.35 and its 200-day moving average price is $37.89. PPL Corporation has a 52-week low of $32.08 and a 52-week high of $40.20.
PPL Corporation (NYSE:PPL) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $1.73 billion for 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 company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. Equities analysts forecast that PPL Corporation will post $2.15 EPS for the current fiscal year.
Several equities research analysts have weighed in on PPL shares. BidaskClub cut shares of PPL Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $43.50 target price (up previously from $42.00) on shares of PPL Corporation in a research note on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) raised shares of PPL Corporation from a “sell” rating to a “neutral” rating and raised their target price for the company from $35.00 to $38.00 in a research note on Monday, June 26th. Zacks Investment Research raised shares of PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, July 12th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $41.00 target price (up previously from $38.00) on shares of PPL Corporation in a research note on Sunday, April 23rd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.72.
Several institutional investors have recently modified their holdings of PPL. Macquarie Group Ltd. boosted its position in shares of PPL Corporation by 75.2% in the fourth quarter. Macquarie Group Ltd. now owns 752,300 shares of the utilities provider’s stock worth $25,616,000 after buying an additional 323,000 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of PPL Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 590,288 shares of the utilities provider’s stock worth $22,071,000 after buying an additional 17,878 shares in the last quarter. Catawba Capital Management VA purchased a new position in shares of PPL Corporation during the first quarter worth about $208,000. Gulf International Bank UK Ltd boosted its position in shares of PPL Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 211,038 shares of the utilities provider’s stock worth $7,890,000 after buying an additional 2,750 shares in the last quarter. Finally, Dynamic Advisors Solutions LLC boosted its position in shares of PPL Corporation by 82.7% in the first quarter. Dynamic Advisors Solutions LLC now owns 111,249 shares of the utilities provider’s stock worth $4,160,000 after buying an additional 50,373 shares in the last quarter. Institutional investors own 71.00% of the company’s stock.
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.
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