Riggs Asset Managment Co. Inc. raised its stake in shares of PPL Corp. (NYSE:PPL) by 18.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,474 shares of the company’s stock after buying an additional 683 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in PPL Corp. were worth $169,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. JFS Wealth Advisors LLC raised its position in PPL Corp. by 0.3% in the second quarter. JFS Wealth Advisors LLC now owns 5,712 shares of the company’s stock valued at $216,000 after buying an additional 16 shares during the period. Pure Financial Advisors Inc. raised its position in PPL Corp. by 1.0% in the second quarter. Pure Financial Advisors Inc. now owns 7,221 shares of the company’s stock valued at $273,000 after buying an additional 72 shares during the period. Union Bankshares Corp raised its position in PPL Corp. by 1.0% in the second quarter. Union Bankshares Corp now owns 9,247 shares of the company’s stock valued at $349,000 after buying an additional 95 shares during the period. Mercer Capital Advisers Inc. raised its position in PPL Corp. by 1.0% in the second quarter. Mercer Capital Advisers Inc. now owns 9,997 shares of the company’s stock valued at $377,000 after buying an additional 100 shares during the period. Finally, Cribstone Capital Management LLC raised its position in PPL Corp. by 1.5% in the second quarter. Cribstone Capital Management LLC now owns 6,878 shares of the company’s stock valued at $260,000 after buying an additional 102 shares during the period. 69.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PPL Corp. (NYSE:PPL) traded down 0.24% during midday trading on Friday, hitting $32.92. 5,691,635 shares of the stock traded hands. The firm has a 50-day moving average price of $34.31 and a 200 day moving average price of $36.77. 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 $22.32 billion, a price-to-earnings ratio of 12.77 and a beta of 0.38.
PPL Corp. (NYSE:PPL) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. PPL Corp. had a net margin of 23.56% and a return on equity of 14.77%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Analysts anticipate that PPL Corp. will post $2.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were issued a $0.38 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.62%. PPL Corp.’s dividend payout ratio is currently 58.69%.
Several equities analysts recently commented on the company. Hilliard Lyons lowered PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Jefferies Group dropped their target price on PPL Corp. from $38.00 to $37.00 and set a “hold” rating on the stock in a report on Wednesday, August 10th. Wolfe Research raised PPL Corp. from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 14th. Barclays PLC dropped their price objective on PPL Corp. from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Finally, Guggenheim lowered PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, August 9th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. PPL Corp. has an average rating of “Hold” and an average target price of $37.86.
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.