Cordasco Financial Network Holds Position in PPL Corp. (PPL)
Cordasco Financial Network continued to hold its stake in shares of PPL Corp. (NYSE:PPL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,267 shares of the company’s stock at the end of the second quarter. PPL Corp. accounts for 0.7% of Cordasco Financial Network’s holdings, making the stock its 27th largest position. Cordasco Financial Network’s holdings in PPL Corp. were worth $614,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of PPL. Kistler Tiffany Companies LLC increased 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 in the last quarter. CapWealth Advisors LLC increased its stake in shares of PPL Corp. by 7.0% in the first quarter. CapWealth Advisors LLC now owns 4,860 shares of the company’s stock worth $185,000 after buying an additional 319 shares in the last quarter. OLD Dominion Capital Management Inc. bought a new stake in shares of PPL Corp. during the first quarter worth about $205,000. Princeton Portfolio Strategies Group LLC bought a new stake in shares of PPL Corp. during the first quarter worth about $210,000. Finally, JFS Wealth Advisors LLC increased its stake in shares of PPL Corp. by 0.3% in the second quarter. JFS Wealth Advisors LLC now owns 5,712 shares of the company’s stock worth $216,000 after buying an additional 16 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of PPL Corp. (NYSE:PPL) traded up 0.06% on Monday, reaching $35.11. The company had a trading volume of 3,970,204 shares. The company’s 50-day moving average is $35.40 and its 200-day moving average is $37.13. PPL Corp. has a one year low of $30.79 and a one year high of $39.92. The company has a market capitalization of $23.81 billion, a PE ratio of 13.62 and a beta of 0.35.
PPL Corp. (NYSE:PPL) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.56 earnings per share for the quarter, beating 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 business earned $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business earned $0.49 EPS. PPL Corp.’s revenue was up .2% compared to the same quarter last year. Equities research analysts predict that PPL Corp. will post $2.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.33%. PPL Corp.’s dividend payout ratio is 58.69%.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised PPL Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Jefferies Group reduced their price target on PPL Corp. from $38.00 to $37.00 and set a “hold” rating on the stock in a research report on Wednesday, August 10th. Credit Suisse Group AG reissued a “hold” rating and set a $44.00 price target on shares of PPL Corp. in a research report on Friday, August 5th. Barclays PLC reduced their price target on PPL Corp. from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Finally, Guggenheim cut PPL Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 9th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $37.86.
In related news, insider Robert A. Symons sold 13,901 shares of PPL Corp. stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $37.40, for a total value of $519,897.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph P. Bergstein, Jr. sold 1,581 shares of PPL Corp. stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $37.06, for a total transaction of $58,591.86. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.
PPL Corp. Company Profile
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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