PPL Corp (PPL) Sees Significant Growth in Short Interest

PPL Corp (NYSE:PPL) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 20,275,842 shares, a growth of 25.7% from the January 12th total of 16,129,879 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily volume of 6,218,909 shares, the short-interest ratio is presently 3.3 days.

Shares of PPL (NYSE:PPL) opened at $30.46 on Tuesday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.48 and a current ratio of 0.56. The company has a market capitalization of $20,970.00, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.85 and a beta of 0.46. PPL has a 52 week low of $29.20 and a 52 week high of $40.20.

In other PPL news, insider Gregory N. Dudkin sold 9,320 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $31.67, for a total value of $295,164.40. Following the sale, the insider now owns 25,940 shares of the company’s stock, valued at $821,519.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Victor A. Staffieri sold 19,524 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $31.60, for a total value of $616,958.40. Following the completion of the sale, the chairman now directly owns 29,084 shares in the company, valued at approximately $919,054.40. The disclosure for this sale can be found here. Insiders sold 44,163 shares of company stock worth $1,395,587 in the last three months. 0.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of PPL. Lord Abbett & CO. LLC boosted its stake in shares of PPL by 0.3% during the second quarter. Lord Abbett & CO. LLC now owns 2,435,800 shares of the utilities provider’s stock valued at $94,168,000 after acquiring an additional 7,000 shares during the last quarter. Curbstone Financial Management Corp boosted its stake in shares of PPL by 100.0% during the third quarter. Curbstone Financial Management Corp now owns 17,572 shares of the utilities provider’s stock valued at $667,000 after acquiring an additional 8,786 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of PPL by 2.6% during the third quarter. LS Investment Advisors LLC now owns 62,802 shares of the utilities provider’s stock valued at $2,383,000 after acquiring an additional 1,601 shares during the last quarter. Denali Advisors LLC boosted its stake in shares of PPL by 1,383.1% during the third quarter. Denali Advisors LLC now owns 426,348 shares of the utilities provider’s stock valued at $16,180,000 after acquiring an additional 397,600 shares during the last quarter. Finally, TIAA FSB boosted its stake in shares of PPL by 20.5% during the third quarter. TIAA FSB now owns 18,567 shares of the utilities provider’s stock valued at $705,000 after acquiring an additional 3,163 shares during the last quarter. 70.50% of the stock is currently owned by institutional investors and hedge funds.

PPL has been the topic of several research reports. KeyCorp reissued a “hold” rating on shares of PPL in a report on Friday, October 20th. Canaccord Genuity reissued a “buy” rating and issued a $48.00 target price on shares of PPL in a report on Thursday, November 30th. Zacks Investment Research raised PPL from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, December 12th. Macquarie lowered PPL from a “neutral” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Tuesday, December 19th. Finally, SunTrust Banks reissued a “buy” rating and issued a $42.00 target price on shares of PPL in a report on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.95.

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PPL Company Profile

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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