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

Key Points

• 1832 Asset Management L.P. reduced its holdings in PPL Corporation by 10.5%, now owning 69,315 shares valued at approximately $2.50 million.
• Several institutional investors, including Pinnacle Bancorp Inc. and HM Payson & Co., significantly increased their stakes in PPL during the 1st quarter.
• PPL recently announced a quarterly dividend of $0.2725 per share, which results in an annualized yield of 3.0% based on a payout ratio of 81.34%.

1832 Asset Management L.P. trimmed its stake in PPL Corporation (NYSE:PPL - Free Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in PPL by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,647,682 shares of the utilities provider's stock worth $85,942,000 after buying an additional 69,720 shares in the last quarter. MML Investors Services LLC lifted its position in shares of PPL by 7.8% in the 4th quarter. MML Investors Services LLC now owns 112,191 shares of the utilities provider's stock worth $3,642,000 after acquiring an additional 8,105 shares during the period. OneDigital Investment Advisors LLC grew its holdings in shares of PPL by 16.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 9,618 shares of the utilities provider's stock worth $312,000 after purchasing an additional 1,387 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in shares of PPL by 14.9% during the 4th quarter. Dark Forest Capital Management LP now owns 15,000 shares of the utilities provider's stock worth $487,000 after purchasing an additional 1,940 shares in the last quarter. Finally, MGO One Seven LLC increased its position in shares of PPL by 12.1% during the fourth quarter. MGO One Seven LLC now owns 14,500 shares of the utilities provider's stock valued at $471,000 after purchasing an additional 1,567 shares during the period. Institutional investors and hedge funds own 76.99% of the company's stock.

Analysts Set New Price Targets

PPL has been the subject of several research reports. Wall Street Zen raised PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley restated an "overweight" rating on shares of PPL in a research note on Thursday, August 21st. Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Finally, Guggenheim lifted their target price on shares of PPL from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $36.70.

PPL Price Performance

Shares of PPL stock traded down $0.14 during mid-day trading on Friday, reaching $36.42. 2,991,254 shares of the stock were exchanged, compared to its average volume of 5,597,011. The company has a market cap of $26.93 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64. 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 firm has a 50-day simple moving average of $35.50 and a 200 day simple moving average of $35.04. PPL Corporation has a fifty-two week low of $31.22 and a fifty-two week high of $37.38.

PPL (NYSE:PPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.05). The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.99 billion. PPL had a net margin of 11.22% and a return on equity of 8.81%. PPL's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. On average, sell-side analysts predict that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a dividend of $0.2725 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.09 dividend on an annualized basis and a yield of 3.0%. PPL's dividend payout ratio is 81.34%.

Insiders Place Their Bets

In other PPL news, COO David J. Bonenberger sold 2,165 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $35.86, for a total value of $77,636.90. Following the transaction, the chief operating officer owned 45,560 shares of the company's stock, valued at approximately $1,633,781.60. The trade was a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is owned by corporate 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.