Huntington National Bank Has $2.02 Million Position in PPL Corporation (PPL)

Huntington National Bank lowered its stake in shares of PPL Corporation (NYSE:PPL) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,148 shares of the utilities provider’s stock after selling 4,428 shares during the period. Huntington National Bank’s holdings in PPL Corporation were worth $2,016,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tompkins Financial Corp raised its stake in shares of PPL Corporation by 114.3% in the first quarter. Tompkins Financial Corp now owns 3,000 shares of the utilities provider’s stock worth $114,000 after buying an additional 1,600 shares during the period. Kistler Tiffany Companies LLC raised its stake in shares of PPL Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 4,084 shares of the utilities provider’s stock worth $153,000 after buying an additional 15 shares during the period. Parallel Advisors LLC raised its stake in shares of PPL Corporation by 6.1% in the first quarter. Parallel Advisors LLC now owns 4,249 shares of the utilities provider’s stock worth $161,000 after buying an additional 243 shares during the period. Focused Wealth Management Inc raised its stake in shares of PPL Corporation by 352.0% in the first quarter. Focused Wealth Management Inc now owns 4,366 shares of the utilities provider’s stock worth $163,000 after buying an additional 3,400 shares during the period. Finally, SRS Capital Advisors Inc. raised its stake in shares of PPL Corporation by 0.9% in the first quarter. SRS Capital Advisors Inc. now owns 4,434 shares of the utilities provider’s stock worth $165,000 after buying an additional 38 shares during the last quarter. 71.05% of the stock is currently owned by institutional investors.

PPL Corporation (NYSE:PPL) traded down 0.67% during trading on Friday, hitting $38.49. 1,661,690 shares of the company’s stock were exchanged. PPL Corporation has a 12-month low of $32.08 and a 12-month high of $40.20. The firm has a market cap of $26.40 billion, a price-to-earnings ratio of 16.11 and a beta of 0.49. The company’s 50-day moving average price is $38.36 and its 200 day moving average price is $37.74.

PPL Corporation (NYSE:PPL) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. PPL Corporation’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share. Equities analysts forecast that PPL Corporation will post $2.15 earnings per share for the current fiscal year.

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A number of equities research analysts have recently weighed in on PPL shares. Barclays PLC reaffirmed an “equal weight” rating and set a $41.00 target price (up previously from $38.00) on shares of PPL Corporation in a research note on Sunday, April 23rd. Jefferies Group LLC lifted their price target on shares of PPL Corporation from $36.50 to $39.00 and gave the company 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) raised shares of PPL Corporation from a “sell” rating to a “neutral” rating and lifted their price target for the company from $35.00 to $38.00 in a research report on Monday, June 26th. Finally, Zacks Investment Research raised shares of PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $38.72.

In related news, VP Joseph P. Bergstein, Jr. sold 2,983 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $39.00, for a total transaction of $116,337.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vincent Sorgi sold 5,600 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $39.00, for a total value of $218,400.00. Following the sale, the insider now directly 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 three months. 0.42% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for PPL Corporation (NYSE:PPL)

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