Alliancebernstein L.P. Buys 297,999 Shares of PPL Corporation $PPL

Key Points

• Alliancebernstein L.P. increased its stake in PPL Corporation by 3.9%, owning a total of 7,881,695 shares worth approximately $284.6 million after acquiring an additional 297,999 shares.
• PPL Corporation reported a net margin of 11.22% and a revenue of $2.03 billion for the latest quarter, which exceeded analyst estimates, though its earnings per share fell short of expectations.
• The company declared a quarterly dividend of $0.2725, with a scheduled payment date of October 1st, representing an annualized yield of 3.0%.

Alliancebernstein L.P. lifted its holdings in shares of PPL Corporation (NYSE:PPL - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,881,695 shares of the utilities provider's stock after acquiring an additional 297,999 shares during the quarter. Alliancebernstein L.P. owned approximately 1.07% of PPL worth $284,608,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners grew its stake in PPL by 37.2% in the first quarter. Boston Partners now owns 13,062,423 shares of the utilities provider's stock worth $471,756,000 after purchasing an additional 3,544,282 shares during the period. American Century Companies Inc. lifted its position in PPL by 1,418.1% during the 1st quarter. American Century Companies Inc. now owns 2,909,371 shares of the utilities provider's stock valued at $105,057,000 after acquiring an additional 2,717,726 shares during the period. Merewether Investment Management LP bought a new stake in PPL during the fourth quarter worth about $70,063,000. Nuveen LLC purchased a new stake in PPL in the first quarter worth about $60,020,000. Finally, JPMorgan Chase & Co. increased its stake in shares of PPL by 42.9% during the first quarter. JPMorgan Chase & Co. now owns 4,779,155 shares of the utilities provider's stock valued at $172,575,000 after purchasing an additional 1,434,778 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company's stock.

PPL Stock Performance

NYSE:PPL traded down $0.29 during mid-day trading on Monday, hitting $35.67. 4,530,747 shares of the company traded hands, compared to its average volume of 5,609,819. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The stock's fifty day moving average price is $35.81 and its 200-day moving average price is $35.14. The firm has a market cap of $26.38 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.58 and a beta of 0.65. PPL Corporation has a one year low of $31.22 and a one year high of $37.38.

PPL (NYSE:PPL - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.99 billion. PPL had a return on equity of 8.81% and a net margin of 11.22%.The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. Research analysts anticipate that PPL Corporation will post 1.83 earnings per share for the current fiscal year.

PPL Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, September 10th. PPL's payout ratio is currently 81.34%.

Analyst Ratings Changes

PPL has been the topic of a number of analyst reports. Barclays upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. Morgan Stanley reaffirmed an "overweight" rating on shares of PPL in a research report on Thursday, August 21st. Finally, Wall Street Zen lowered PPL from a "hold" rating to a "sell" rating in a report on Friday. Two investment 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 company's stock. Based on data from MarketBeat.com, PPL currently has a consensus rating of "Buy" and an average target price of $36.70.

Insider Buying and Selling

In related news, COO David J. Bonenberger sold 2,165 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $35.86, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company's stock.

About PPL

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.