Karp Capital Management Corp purchased a new stake in PPL Corporation (NYSE:PPL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 268,821 shares of the utilities provider’s stock, valued at approximately $10,051,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC bought a new position in PPL Corporation during the fourth quarter valued at approximately $136,000. Iowa State Bank increased its position in PPL Corporation by 3.3% in the first quarter. Iowa State Bank now owns 12,929 shares of the utilities provider’s stock worth $483,000 after buying an additional 415 shares during the period. Tompkins Financial Corp increased its position in PPL Corporation 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 period. Gradient Investments LLC increased its position in PPL Corporation by 13.2% in the first quarter. Gradient Investments LLC now owns 167,654 shares of the utilities provider’s stock worth $6,269,000 after buying an additional 19,557 shares during the period. Finally, Deane Retirement Strategies Inc. acquired a new position in PPL Corporation during the first quarter worth approximately $2,638,000. 71.79% of the stock is currently owned by institutional investors.
Shares of PPL Corporation (NYSE:PPL) opened at 39.49 on Friday. PPL Corporation has a one year low of $32.08 and a one year high of $40.20. The company has a 50-day moving average of $39.07 and a 200 day moving average of $36.54. The stock has a market cap of $26.98 billion, a price-to-earnings ratio of 14.79 and a beta of 0.50.
PPL Corporation (NYSE:PPL) last announced its earnings results on Thursday, May 4th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.62. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.03 billion. PPL Corporation had a return on equity of 16.28% and a net margin of 24.46%. PPL Corporation’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share. On average, equities analysts forecast that PPL Corporation will post $2.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 9th will be given a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Wednesday, June 7th. PPL Corporation’s dividend payout ratio (DPR) is presently 59.18%.
A number of analysts have recently weighed in on the stock. Deutsche Bank AG raised their price target on shares of PPL Corporation from $36.00 to $38.00 and gave the company a “hold” rating in a report on Tuesday, April 11th. Barclays PLC restated an “equal weight” rating and issued a $41.00 price target (up from $38.00) on shares of PPL Corporation in a report on Sunday, April 23rd. Jefferies Group LLC lifted their target price on shares of PPL Corporation from $36.50 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 24th. Finally, BidaskClub cut shares of PPL Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $38.00.
In other news, insider Robert A. Symons sold 12,703 shares of the business’s stock in a transaction on 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 directly owns 1 shares of the company’s stock, valued at $37.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.
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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