PPL Corporation (PPL) Short Interest Down 32.5% in July
PPL Corporation (NYSE:PPL) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 6,373,595 shares, a decline of 32.5% from the July 14th total of 9,441,397 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 3,282,975 shares, the short-interest ratio is currently 1.9 days.
Several equities research analysts recently weighed in on PPL shares. Barclays PLC restated an “equal weight” rating and issued a $41.00 price target (up previously from $38.00) on shares of PPL Corporation in a research report on Sunday, April 23rd. Jefferies Group LLC boosted their price target on shares of PPL Corporation from $36.50 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 24th. BidaskClub cut shares of PPL Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) upgraded shares of PPL Corporation from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $35.00 to $38.00 in a research report on Monday, June 26th. Finally, Zacks Investment Research upgraded shares of PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. PPL Corporation presently has an average rating of “Hold” and an average price target of $38.72.
In related news, insider Gregory N. Dudkin sold 8,228 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $39.55, for a total value of $325,417.40. Following the sale, the insider now owns 39,693 shares in the company, valued at $1,569,858.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vincent Sorgi sold 5,600 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $39.00, for a total transaction of $218,400.00. Following the completion of the sale, the insider now owns 97 shares in the company, valued at approximately $3,783. The disclosure for this sale can be found here. Insiders sold 19,740 shares of company stock worth $773,067 in the last 90 days. 0.42% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of PPL Corporation by 3.0% in the first quarter. Vanguard Group Inc. now owns 48,915,860 shares of the utilities provider’s stock worth $1,828,963,000 after buying an additional 1,416,622 shares during the period. BlackRock Inc. increased its stake in shares of PPL Corporation by 3,377.9% in the first quarter. BlackRock Inc. now owns 47,999,937 shares of the utilities provider’s stock worth $1,794,717,000 after buying an additional 46,619,804 shares during the period. State Street Corp increased its stake in shares of PPL Corporation by 0.7% in the first quarter. State Street Corp now owns 33,942,872 shares of the utilities provider’s stock worth $1,269,127,000 after buying an additional 233,142 shares during the period. FMR LLC increased its stake in shares of PPL Corporation by 11.8% in the first quarter. FMR LLC now owns 17,138,572 shares of the utilities provider’s stock worth $640,811,000 after buying an additional 1,812,574 shares during the period. Finally, Epoch Investment Partners Inc. increased its stake in shares of PPL Corporation by 12.3% in the first quarter. Epoch Investment Partners Inc. now owns 13,918,249 shares of the utilities provider’s stock worth $520,403,000 after buying an additional 1,524,365 shares during the period. 71.00% of the stock is owned by institutional investors and hedge funds.
PPL Corporation (PPL) opened at 38.92 on Wednesday. PPL Corporation has a 1-year low of $32.08 and a 1-year high of $40.20. The firm’s 50-day moving average is $38.34 and its 200 day moving average is $37.85. The stock has a market capitalization of $26.69 billion, a price-to-earnings ratio of 16.29 and a beta of 0.49.
PPL Corporation (NYSE:PPL) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the company earned $0.56 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts anticipate that PPL Corporation will post $2.15 EPS for the current fiscal year.
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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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