6,930 Shares in PPL Corporation $PPL Purchased by Algert Global LLC

Key Points

• Algert Global LLC invested $250,000 in PPL Corporation, acquiring 6,930 shares, reflecting a growing interest in the utilities provider among institutional investors.
• Analysts have varied opinions on PPL's stock, with ratings ranging from "Strong Buy" to "Hold," while the stock's consensus price target is set at $36.70.
• PPL Corporation recently declared a quarterly dividend of $0.2725, with an annualized yield of 3.0%, and has a dividend payout ratio of 81.34%.

Algert Global LLC acquired a new stake in PPL Corporation (NYSE:PPL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,930 shares of the utilities provider's stock, valued at approximately $250,000.

Other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. raised its stake in shares of PPL by 141.0% in the first quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 423 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of PPL by 94.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 818 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 397 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of PPL in the first quarter valued at $32,000. HM Payson & Co. raised its stake in shares of PPL by 1,057.6% in the first quarter. HM Payson & Co. now owns 984 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 899 shares in the last quarter. Finally, AllSquare Wealth Management LLC acquired a new stake in shares of PPL in the first quarter valued at $45,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Stock Performance

Shares of PPL traded down $0.04 during midday trading on Friday, reaching $36.52. 6,490,525 shares of the stock were exchanged, compared to its average volume of 5,620,174. The business's 50-day moving average price is $35.50 and its 200 day moving average price is $35.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.49. PPL Corporation has a twelve month low of $31.22 and a twelve month high of $37.38. The company has a market capitalization of $27.01 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 2.63 and a beta of 0.64.

PPL (NYSE:PPL - Get Free Report) last posted its 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). PPL had a return on equity of 8.81% and a net margin of 11.22%.The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm posted $0.38 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. On average, sell-side analysts expect that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 3.0%. PPL's payout ratio is 81.34%.

Insider Activity at PPL

In other news, COO David J. Bonenberger sold 2,165 shares of PPL 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 sale, the chief operating officer owned 45,560 shares in the company, 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 is accessible through this link. Company insiders own 0.28% of the company's stock.

Analyst Ratings Changes

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