Vincent Sorgi Sells 13,696 Shares of PPL Corp (NYSE:PPL) Stock

PPL Corp (NYSE:PPL) COO Vincent Sorgi sold 13,696 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.04, for a total value of $466,211.84. Following the transaction, the chief operating officer now 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 can be accessed through this hyperlink.

Shares of NYSE PPL traded up $0.04 during trading hours on Tuesday, reaching $33.69. The stock had a trading volume of 132,472 shares, compared to its average volume of 4,888,655. The business’s fifty day moving average is $32.50 and its two-hundred day moving average is $30.95. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.66 and a quick ratio of 0.58. The company has a market cap of $24.52 billion, a price-to-earnings ratio of 14.04 and a beta of 0.49. PPL Corp has a twelve month low of $27.31 and a twelve month high of $34.15.

PPL (NYSE:PPL) last issued its earnings results on Tuesday, November 5th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.04 billion. PPL had a net margin of 23.17% and a return on equity of 14.73%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Sell-side analysts forecast that PPL Corp will post 2.43 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of PPL. TRUE Private Wealth Advisors bought a new stake in PPL in the second quarter valued at $25,000. Bartlett & Co. LLC grew its position in PPL by 100.0% in the third quarter. Bartlett & Co. LLC now owns 800 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 400 shares during the period. Kings Point Capital Management bought a new stake in PPL in the second quarter valued at $28,000. Kavar Capital Partners LLC bought a new stake in PPL in the second quarter valued at $35,000. Finally, Venturi Wealth Management LLC bought a new stake in PPL in the third quarter valued at $35,000. Institutional investors and hedge funds own 71.54% of the company’s stock.

PPL has been the subject of a number of research analyst reports. Zacks Investment Research upgraded PPL from a “sell” rating to a “hold” rating and set a $34.00 price target for the company in a report on Tuesday, October 15th. Citigroup upped their price target on PPL from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. GMP Securities restated an “average” rating and issued a $59.00 target price on shares of PPL in a research note on Wednesday, August 7th. Morgan Stanley set a $30.00 target price on PPL and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, ValuEngine lowered PPL from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. PPL has a consensus rating of “Hold” and an average price target of $36.13.

About PPL

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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