Belpointe Asset Management LLC Buys Shares of 14,961 PPL Corporation $PPL

Key Points

• Belpointe Asset Management LLC invested $540,000 in PPL Corporation by acquiring 14,961 shares in the first quarter of 2023.
• PPL Corporation reported earnings of $0.32 per share, falling short of the consensus estimate of $0.37, despite a revenue increase of 7.7% year-over-year.
• The company announced a quarterly dividend of $0.2725 per share, which translates to an annualized dividend yield of 3.0%.

Belpointe Asset Management LLC acquired a new position in shares of PPL Corporation (NYSE:PPL - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 14,961 shares of the utilities provider's stock, valued at approximately $540,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pinnacle Bancorp Inc. boosted its position in shares of PPL by 141.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 423 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in PPL by 94.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 818 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 397 shares in the last quarter. Ancora Advisors LLC increased its stake in PPL by 8,350.0% in the 1st quarter. Ancora Advisors LLC now owns 845 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 835 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in PPL during the 1st quarter valued at $32,000. Finally, Truvestments Capital LLC grew its holdings in PPL by 5,352.9% during the 1st quarter. Truvestments Capital LLC now owns 927 shares of the utilities provider's stock valued at $33,000 after buying an additional 910 shares during the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PPL. Barclays upgraded PPL from a "hold" rating to a "strong-buy" rating in a report 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 cut PPL from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $36.70.

Insiders Place Their Bets

In other PPL news, COO David J. Bonenberger sold 2,165 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $35.86, for a total value of $77,636.90. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by company insiders.

PPL Stock Down 0.5%

PPL stock traded down $0.17 during midday trading on Monday, hitting $35.99. The stock had a trading volume of 2,970,001 shares, compared to its average volume of 4,547,422. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 1.07. The business has a fifty day moving average price of $36.06 and a 200 day moving average price of $35.18. PPL Corporation has a 12 month low of $31.22 and a 12 month high of $37.38. The stock has a market cap of $26.62 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.60 and a beta of 0.65.

PPL (NYSE:PPL - Get Free Report) last issued 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). The company had revenue of $2.03 billion during 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 was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. Research analysts predict that PPL Corporation will post 1.83 EPS for the current year.

PPL Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 yield of 3.0%. The ex-dividend date is Wednesday, September 10th. PPL's dividend payout ratio is 81.34%.

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.