Truist Financial Corp Increases Stock Holdings in PPL Co. (NYSE:PPL)

Truist Financial Corp lifted its stake in shares of PPL Co. (NYSE:PPL) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 696,487 shares of the utilities provider’s stock after buying an additional 16,188 shares during the quarter. Truist Financial Corp owned 0.09% of PPL worth $22,608,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PPL. Fortitude Family Office LLC increased its holdings in PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 516 shares during the last quarter. Kentucky Trust Co purchased a new stake in PPL during the 4th quarter worth approximately $32,000. Ashton Thomas Securities LLC purchased a new stake in PPL during the 3rd quarter worth approximately $34,000. Rosenberg Matthew Hamilton increased its holdings in PPL by 1,092.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,114 shares during the last quarter. Finally, Covestor Ltd increased its holdings in PPL by 139.2% during the 3rd quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 880 shares during the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Trading Up 0.5 %

NYSE:PPL opened at $34.38 on Thursday. PPL Co. has a 12-month low of $25.87 and a 12-month high of $35.15. The firm has a market capitalization of $25.38 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.73 and a beta of 0.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.71. The business has a 50 day simple moving average of $32.93 and a 200 day simple moving average of $32.67.

PPL (NYSE:PPL) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). PPL had a net margin of 10.49% and a return on equity of 8.88%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.09 billion. Equities research analysts predict that PPL Co. will post 1.83 EPS for the current year.

PPL Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, March 10th. This is a positive change from PPL’s previous quarterly dividend of $0.26. PPL’s payout ratio is 85.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PPL shares. Bank of America lifted their price objective on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group lowered their price target on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. JPMorgan Chase & Co. began coverage on PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target for the company. BMO Capital Markets began coverage on PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target for the company. Finally, Citigroup boosted their price target on PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.00.

Insiders Place Their Bets

In other PPL news, SVP Tadd J. Henninger sold 6,639 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total transaction of $213,510.24. Following the completion of the transaction, the senior vice president now owns 11,210 shares in the company, valued at approximately $360,513.60. The trade was a 37.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David J. Bonenberger sold 981 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total value of $32,843.88. Following the transaction, the chief operating officer now owns 45,414 shares of the company’s stock, valued at $1,520,460.72. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,633 shares of company stock worth $346,657. 0.22% of the stock is owned by company insiders.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.