1832 Asset Management L.P. Sells 8,108 Shares of PPL Corporation $PPL

1832 Asset Management L.P. lowered its position in shares of PPL Corporation (NYSE:PPL) by 10.5% in the first quarter, HoldingsChannel reports. The fund owned 69,315 shares of the utilities provider’s stock after selling 8,108 shares during the period. 1832 Asset Management L.P.’s holdings in PPL were worth $2,503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of PPL by 1.7% during the first quarter. Invesco Ltd. now owns 27,938,545 shares of the utilities provider’s stock worth $1,008,861,000 after acquiring an additional 472,979 shares during the last quarter. Boston Partners increased its holdings in PPL by 37.2% in the first quarter. Boston Partners now owns 13,062,423 shares of the utilities provider’s stock valued at $471,756,000 after purchasing an additional 3,544,282 shares during the last quarter. Bank of America Corp DE increased its holdings in PPL by 12.1% in the fourth quarter. Bank of America Corp DE now owns 12,672,428 shares of the utilities provider’s stock valued at $411,347,000 after purchasing an additional 1,371,000 shares during the last quarter. Northern Trust Corp increased its holdings in PPL by 0.3% in the first quarter. Northern Trust Corp now owns 8,598,814 shares of the utilities provider’s stock valued at $310,503,000 after purchasing an additional 28,589 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in PPL by 1.4% in the first quarter. Federated Hermes Inc. now owns 7,998,199 shares of the utilities provider’s stock valued at $288,815,000 after purchasing an additional 109,160 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.

PPL Stock Up 0.5%

NYSE:PPL opened at $36.8940 on Monday. PPL Corporation has a 1 year low of $31.22 and a 1 year high of $37.38. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 1.07. The stock has a market cap of $27.28 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.65 and a beta of 0.64. The stock has a 50-day moving average price of $35.26 and a two-hundred day moving average price of $34.98.

PPL (NYSE:PPL) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.05). PPL had a net margin of 11.22% and a return on equity of 8.81%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. As a group, equities analysts expect that PPL Corporation will post 1.83 earnings per share for the current year.

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.0%. PPL’s payout ratio is 81.34%.

Analysts Set New Price Targets

PPL has been the subject of a number of recent analyst reports. Wall Street Zen upgraded PPL from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Guggenheim upped their price objective on PPL from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Morgan Stanley dropped their price objective on PPL from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, June 18th. Finally, Barclays upgraded PPL from a “hold” rating to a “strong-buy” rating in a report on Monday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, PPL presently has a consensus rating of “Buy” and a consensus target price of $36.70.

Insider Transactions at PPL

In other news, COO David J. Bonenberger sold 2,165 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $35.86, for a total transaction of $77,636.90. Following the completion of the transaction, the chief operating officer directly owned 45,560 shares of the company’s stock, valued at $1,633,781.60. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.

PPL 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.