Bank of Nova Scotia Purchases Shares of 183,677 PPL Corporation $PPL

Key Points

• Bank of Nova Scotia purchased 183,677 PPL shares worth approximately $6.7 million in the second quarter, while institutional investors collectively own 76.99% of the company.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $41 price target; PPL shares recently opened at $35.03.
• PPL reported quarterly EPS of $0.33, slightly below estimates, on revenue of $2.11 billion, and declared a quarterly dividend of $0.285 per share, representing a 3.3% annualized yield.

Bank of Nova Scotia purchased a new stake in shares of PPL Corporation (NYSE:PPL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 183,677 shares of the utilities provider's stock, valued at approximately $6,677,000.

Several other institutional investors have also recently made changes to their positions in the business. Allied Private Wealth LLC purchased a new position in shares of PPL in the second quarter worth approximately $42,000. Covestor Ltd raised its position in PPL by 206.7% in the second quarter. Covestor Ltd now owns 1,291 shares of the utilities provider's stock worth $47,000 after acquiring an additional 870 shares during the period. Root Financial Partners LLC raised its position in PPL by 72.5% in the first quarter. Root Financial Partners LLC now owns 2,587 shares of the utilities provider's stock worth $99,000 after acquiring an additional 1,087 shares during the period. Rossby Financial LCC boosted its stake in shares of PPL by 70.0% during the 4th quarter. Rossby Financial LCC now owns 3,012 shares of the utilities provider's stock worth $105,000 after acquiring an additional 1,240 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new position in shares of PPL during the 4th quarter worth $119,000. Institutional investors own 76.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PPL shares. Morgan Stanley lowered their target price on PPL from $43.00 to $42.00 and set an "overweight" rating on the stock in a research report on Friday, August 21st. Weiss Ratings cut PPL from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, June 18th. Mizuho raised PPL to a "hold" rating in a research note on Friday, July 3rd. Barclays lifted their price objective on PPL from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Finally, Bank of America reduced their target price on shares of PPL from $42.00 to $39.00 and set a "buy" rating for the company in a report on Monday, July 20th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

PPL Trading Down 0.0%

Shares of PPL stock opened at $35.03 on Wednesday. PPL Corporation has a 52-week low of $33.17 and a 52-week high of $40.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.73 and a current ratio of 0.91. The firm has a market capitalization of $26.36 billion, a PE ratio of 20.73, a PEG ratio of 2.40 and a beta of 0.57. The stock has a fifty day simple moving average of $35.79 and a two-hundred day simple moving average of $36.75.

PPL (NYSE:PPL - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). PPL had a return on equity of 9.33% and a net margin of 13.47%.The business had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. PPL has set its FY 2026 guidance at 1.900-1.980 EPS. On average, analysts predict that PPL Corporation will post 1.94 EPS for the current fiscal year.

PPL Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, September 10th. PPL's payout ratio is 67.46%.

Insiders Place Their Bets

In related news, CFO Ashley F. Johnson sold 34,993 shares of the company's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $22.08, for a total transaction of $772,645.44. Following the completion of the transaction, the chief financial officer owned 561,482 shares in the company, valued at approximately $12,397,522.56. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kristen Robinson sold 37,107 shares of the firm's stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total transaction of $929,530.35. Following the transaction, the director directly owned 222,897 shares of the company's stock, valued at $5,583,569.85. The trade was a 14.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.34% of the stock is currently owned by corporate insiders.

PPL Company Profile

PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company's core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.

PPL's activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.

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