Trade Report: Today, QCI Asset Management Inc. NY Sold shares of PPL Corp. (PPL)

Today, QCI Asset Management Inc. NY Sold shares of PPL Corp. (PPL)

QCI Asset Management Inc. NY reduced its stake in shares of PPL Corp. (NYSE:PPL) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,070 shares of the company’s stock after selling 30 shares during the period. QCI Asset Management Inc. NY’s holdings in PPL Corp. were worth $106,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp raised its stake in shares of PPL Corp. by 8.2% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 475,960 shares of the company’s stock worth $17,968,000 after buying an additional 35,959 shares during the period. Raymond James Trust N.A. raised its stake in shares of PPL Corp. by 4.4% in the second quarter. Raymond James Trust N.A. now owns 49,098 shares of the company’s stock worth $1,854,000 after buying an additional 2,048 shares during the period. Cullinan Associates Inc. raised its stake in shares of PPL Corp. by 26.7% in the second quarter. Cullinan Associates Inc. now owns 97,720 shares of the company’s stock worth $3,689,000 after buying an additional 20,570 shares during the period. Kistler Tiffany Companies LLC raised its stake in shares of PPL Corp. by 97.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,040 shares of the company’s stock worth $153,000 after buying an additional 1,991 shares during the period. Finally, Fulton Bank N.A. raised its stake in shares of PPL Corp. by 6.8% in the second quarter. Fulton Bank N.A. now owns 103,269 shares of the company’s stock worth $3,899,000 after buying an additional 6,544 shares during the period. Hedge funds and other institutional investors own 68.25% of the company’s stock.

Shares of PPL Corp. (NYSE:PPL) traded up 1.7723% during trading on Friday, reaching $33.3915. The company had a trading volume of 810,856 shares. PPL Corp. has a 52-week low of $32.08 and a 52-week high of $39.92. The firm has a 50-day moving average price of $33.32 and a 200-day moving average price of $35.95. The company has a market capitalization of $22.69 billion, a P/E ratio of 12.4040 and a beta of 0.41.

PPL Corp. (NYSE:PPL) last announced its earnings results on Tuesday, November 1st. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $2.04 billion. PPL Corp. had a return on equity of 15.66% and a net margin of 24.59%. The company’s revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. On average, analysts predict that PPL Corp. will post $2.36 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.63%. PPL Corp.’s payout ratio is currently 56.30%.

A number of analysts have issued reports on the stock. Jefferies Group cut their price target on shares of PPL Corp. from $38.00 to $37.00 and set a “hold” rating on the stock in a research note on Wednesday, August 10th. Guggenheim lowered shares of PPL Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 9th. Credit Suisse Group AG reissued a “hold” rating and set a $44.00 price objective on shares of PPL Corp. in a research report on Friday, August 5th. Bank of America Corp. downgraded PPL Corp. from a “buy” rating to a “neutral” rating and set a $32.00 price objective for the company. in a research report on Tuesday. Finally, Wolfe Research raised PPL Corp. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 14th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.77.

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. It operates through three segments: U.K.

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