Maple Capital Management Inc. raised its position in PPL Corp (NYSE:PPL) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,945 shares of the utilities provider’s stock after buying an additional 4,153 shares during the period. PPL Corp makes up about 1.6% of Maple Capital Management Inc.’s investment portfolio, making the stock its 27th largest position. Maple Capital Management Inc.’s holdings in PPL Corp were worth $5,494,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Tompkins Financial Corp raised its stake in PPL Corp by 114.3% in the first quarter. Tompkins Financial Corp now owns 3,000 shares of the utilities provider’s stock worth $114,000 after buying an additional 1,600 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in PPL Corp during the fourth quarter worth $117,000. Parallel Advisors LLC acquired a new stake in PPL Corp during the fourth quarter worth $136,000. SRS Capital Advisors Inc. acquired a new stake in PPL Corp during the fourth quarter worth $150,000. Finally, Perigon Wealth Management LLC acquired a new stake in PPL Corp during the fourth quarter worth $165,000. Hedge funds and other institutional investors own 71.29% of the company’s stock.
PPL Corp (NYSE:PPL) traded up 0.142% during trading on Friday, reaching $38.855. 1,919,864 shares of the company’s stock traded hands. PPL Corp has a one year low of $32.08 and a one year high of $39.92. The stock has a market cap of $26.54 billion, a P/E ratio of 14.552 and a beta of 0.45. The firm’s 50 day moving average price is $37.99 and its 200-day moving average price is $35.68.
PPL Corp (NYSE:PPL) last announced its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.62. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.03 billion. PPL Corp had a net margin of 25.30% and a return on equity of 16.76%. PPL Corp’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. On average, equities analysts anticipate that PPL Corp will post $2.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be paid a $0.395 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.58 annualized dividend and a yield of 4.07%. PPL Corp’s dividend payout ratio is currently 54.48%.
A number of brokerages recently issued reports on PPL. Barclays PLC reissued an “equal weight” rating and set a $41.00 price target (up from $38.00) on shares of PPL Corp in a report on Sunday, April 23rd. Jefferies Group LLC increased their price target on shares of PPL Corp from $36.50 to $39.00 and gave the stock a “hold” rating in a report on Monday, April 24th. Finally, Deutsche Bank AG increased their price target on shares of PPL Corp from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.00.
In other PPL Corp news, Chairman William H. Spence sold 40,123 shares of the business’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $36.94, for a total transaction of $1,482,143.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul W. Thompson sold 6,454 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $36.00, for a total transaction of $232,344.00. Following the sale, the insider now owns 5,073 shares in the company, valued at $182,628. The disclosure for this sale can be found here. Insiders sold a total of 74,023 shares of company stock worth $2,735,876 over the last three months. 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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