Bank of Hawaii Purchases New Stake in PPL Corporation $PPL

Key Points

• Bank of Hawaii has made a new investment in PPL Corporation, acquiring approximately 9,024 shares valued at $326,000 in the first quarter.
• PPL Corporation recently reported earnings per share of $0.32, missing the consensus estimate of $0.37, despite revenue reaching $2.03 billion.
• The company announced a quarterly dividend of $0.2725 per share, contributing to an annualized yield of 3.0% for shareholders.

Bank of Hawaii purchased a new stake in PPL Corporation (NYSE:PPL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,024 shares of the utilities provider's stock, valued at approximately $326,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in PPL by 17.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,088 shares of the utilities provider's stock valued at $2,824,000 after buying an additional 11,782 shares during the period. Envestnet Asset Management Inc. increased its holdings in PPL by 9.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,975,310 shares of the utilities provider's stock valued at $107,438,000 after buying an additional 250,564 shares during the period. Oppenheimer & Co. Inc. increased its holdings in PPL by 45.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 30,603 shares of the utilities provider's stock valued at $1,105,000 after buying an additional 9,503 shares during the period. Brown Advisory Inc. increased its holdings in PPL by 13.7% in the 1st quarter. Brown Advisory Inc. now owns 9,748 shares of the utilities provider's stock valued at $352,000 after buying an additional 1,175 shares during the period. Finally, Heartland Bank & Trust Co bought a new stake in PPL in the 1st quarter valued at $992,000. Institutional investors own 76.99% of the company's stock.

Insider Buying and Selling at PPL

In related news, COO David J. Bonenberger sold 2,165 shares of the firm'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 completion of the transaction, the chief operating officer directly owned 45,560 shares of the company's stock, valued at approximately $1,633,781.60. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is owned by corporate insiders.

PPL Trading Down 0.1%

PPL stock traded down $0.04 during trading hours on Friday, reaching $36.52. 6,490,525 shares of the company's stock traded hands, compared to its average volume of 5,620,174. 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 fifty-two week low of $31.22 and a fifty-two week high of $37.38. The firm 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. The firm's 50 day moving average is $35.50 and its 200-day moving average is $35.04.

PPL (NYSE:PPL - Get Free Report) last released 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). The business had revenue of $2.03 billion for 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%. The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter 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, analysts predict that PPL Corporation will post 1.83 earnings per share for the current year.

PPL Announces Dividend

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

Analyst Upgrades and Downgrades

PPL has been the topic of several analyst reports. Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Guggenheim upped their target price on shares of PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of PPL in a report on Thursday, August 21st. Finally, Wall Street Zen raised shares of PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Two equities 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 data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $36.70.

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.