ICONIQ Capital LLC Invests $250,000 in PPL Corporation $PPL

Key Points

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ICONIQ Capital LLC bought a new position in shares of PPL Corporation (NYSE:PPL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,925 shares of the utilities provider's stock, valued at approximately $250,000.

Several other hedge funds have also added to or reduced their stakes in PPL. Dimensional Fund Advisors LP boosted its holdings in PPL by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,647,682 shares of the utilities provider's stock valued at $85,942,000 after acquiring an additional 69,720 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in PPL by 16.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 9,618 shares of the utilities provider's stock valued at $312,000 after acquiring an additional 1,387 shares during the last quarter. MGO One Seven LLC boosted its holdings in PPL by 12.1% in the fourth quarter. MGO One Seven LLC now owns 14,500 shares of the utilities provider's stock valued at $471,000 after acquiring an additional 1,567 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in PPL by 5.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 8,901 shares of the utilities provider's stock valued at $289,000 after acquiring an additional 499 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of PPL during the 4th quarter valued at $480,000. Institutional investors own 76.99% of the company's stock.

Insiders Place Their Bets

In other news, COO David J. Bonenberger sold 2,165 shares of the stock in a transaction dated Tuesday, July 29th. The shares were 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 in the company, valued at $1,633,781.60. This represents a 4.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.28% of the company's stock.

PPL Stock Down 0.1%

NYSE PPL traded down $0.04 on Friday, reaching $36.52. The company had a trading volume of 6,490,525 shares, compared to its average volume of 5,620,174. The firm has a market capitalization of $27.01 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.49 and a current ratio of 0.59. PPL Corporation has a 1-year low of $31.22 and a 1-year high of $37.38. The company's fifty day moving average is $35.50 and its 200-day moving average is $35.04.

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

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.2725 dividend. The ex-dividend date of this dividend 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 presently 81.34%.

Wall Street Analyst Weigh In

Several brokerages have commented on PPL. Wall Street Zen upgraded shares of PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Barclays upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Morgan Stanley reiterated an "overweight" rating on shares of PPL in a research report on Thursday, August 21st. Finally, Guggenheim upped 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 research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, PPL presently has a consensus rating of "Buy" and a consensus target price of $36.70.

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.