PPL Corp (PPL) Short Interest Up 6.6% in February
PPL Corp (NYSE:PPL) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 45,182,650 shares, a growth of 6.6% from the February 15th total of 42,372,027 shares. Approximately 6.3% of the shares of the company are short sold. Based on an average daily trading volume, of 4,627,412 shares, the days-to-cover ratio is presently 9.8 days.
In related news, Chairman Paul W. Thompson sold 4,573 shares of the stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $28.25, for a total value of $129,187.25. Following the completion of the transaction, the chairman now directly owns 7,419 shares of the company’s stock, valued at approximately $209,586.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman William H. Spence sold 225,365 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $32.50, for a total value of $7,324,362.50. The disclosure for this sale can be found here. Insiders sold a total of 256,997 shares of company stock valued at $8,265,457 over the last three months. Corporate insiders own 0.38% of the company’s stock.
Large investors have recently made changes to their positions in the company. Rehmann Capital Advisory Group lifted its position in shares of PPL by 2,949.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 41,344 shares of the utilities provider’s stock valued at $1,413,000 after acquiring an additional 39,988 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of PPL by 9.7% in the third quarter. Mackenzie Financial Corp now owns 108,836 shares of the utilities provider’s stock valued at $3,185,000 after purchasing an additional 9,606 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of PPL by 47.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,250,000 shares of the utilities provider’s stock valued at $35,413,000 after purchasing an additional 400,000 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of PPL in the third quarter valued at $630,000. Finally, Schnieders Capital Management LLC lifted its holdings in shares of PPL by 35.6% in the fourth quarter. Schnieders Capital Management LLC now owns 58,989 shares of the utilities provider’s stock valued at $1,671,000 after purchasing an additional 15,475 shares in the last quarter. Institutional investors own 73.89% of the company’s stock.
Shares of NYSE:PPL opened at $32.74 on Friday. PPL has a one year low of $25.30 and a one year high of $32.88. The firm has a market cap of $23.60 billion, a PE ratio of 13.64, a P/E/G ratio of 2.67 and a beta of 0.54. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.53 and a quick ratio of 0.47.
PPL (NYSE:PPL) last announced its quarterly earnings data on Thursday, February 14th. The utilities provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. PPL had a return on equity of 14.91% and a net margin of 23.47%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts expect that PPL will post 2.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be given a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from PPL’s previous quarterly dividend of $0.41. PPL’s dividend payout ratio is 68.75%.
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PPL Company Profile
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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