Exane Derivatives Reduces Stake in PPL Corp (NYSE:PPL)

Exane Derivatives reduced its position in PPL Corp (NYSE:PPL) by 36.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,789 shares of the utilities provider’s stock after selling 4,487 shares during the period. Exane Derivatives’ holdings in PPL were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Clarius Group LLC purchased a new position in PPL during the fourth quarter valued at $204,000. Exchange Traded Concepts LLC purchased a new position in PPL during the fourth quarter valued at $1,920,000. Chapwood Capital Investment Management LLC purchased a new position in PPL during the fourth quarter valued at $215,000. NEXT Financial Group Inc lifted its position in PPL by 458.2% during the fourth quarter. NEXT Financial Group Inc now owns 4,823 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 3,959 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its position in PPL by 10.8% during the fourth quarter. Wealthfront Advisers LLC now owns 104,419 shares of the utilities provider’s stock valued at $3,747,000 after purchasing an additional 10,161 shares in the last quarter. Hedge funds and other institutional investors own 70.66% of the company’s stock.

In other news, COO Vincent Sorgi sold 13,696 shares of PPL stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.04, for a total value of $466,211.84. Following the sale, the chief operating officer now directly owns 30,976 shares of the company’s stock, valued at $1,054,423.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Spence sold 388,000 shares of PPL stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $33.57, for a total value of $13,025,160.00. The disclosure for this sale can be found here. Insiders sold 790,664 shares of company stock worth $26,840,754 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Shares of PPL stock opened at $36.71 on Friday. The stock’s 50-day simple moving average is $35.45 and its 200-day simple moving average is $32.37. PPL Corp has a 52 week low of $28.55 and a 52 week high of $36.77. The company has a market capitalization of $26.05 billion, a price-to-earnings ratio of 14.92 and a beta of 0.51. The company has a quick ratio of 0.58, a current ratio of 0.66 and a debt-to-equity ratio of 1.81.

PPL (NYSE:PPL) last announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). PPL had a net margin of 23.17% and a return on equity of 14.73%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. PPL’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts expect that PPL Corp will post 2.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were given a $0.4125 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.65 annualized dividend and a dividend yield of 4.49%. PPL’s payout ratio is 68.75%.

Several equities analysts recently weighed in on the company. Argus reiterated a “buy” rating and set a $39.00 target price (up from $34.00) on shares of PPL in a research report on Friday, January 10th. Macquarie upgraded PPL from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $27.00 to $32.50 in a research report on Wednesday, October 23rd. Zacks Investment Research upgraded PPL from a “sell” rating to a “hold” rating and set a $34.00 target price on the stock in a research report on Tuesday, October 15th. Wells Fargo & Co began coverage on PPL in a research report on Thursday, December 19th. They set an “equal weight” rating and a $50.00 target price on the stock. Finally, UBS Group boosted their price objective on PPL from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. PPL has an average rating of “Hold” and an average price target of $39.05.

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.

Further Reading: What are no-load funds?

Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corp (NYSE:PPL).

Institutional Ownership by Quarter for PPL (NYSE:PPL)

Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.