BROOKFIELD Corp ON Grows Stake in PPL Corporation $PPL

Key Points

• BROOKFIELD Corp ON increased its stake in PPL Corporation by 38.2%, holding 998,207 shares valued at approximately $36.05 million as of the most recent reporting period.
• PPL Corporation reported $0.32 EPS for the last quarter, missing analyst expectations, although revenue of $2.03 billion exceeded estimates of $1.99 billion.
• The company declared a quarterly dividend of $0.2725 per share, indicating a 3.0% annualized yield and a payout ratio of 81.34%.

BROOKFIELD Corp ON boosted its position in PPL Corporation (NYSE:PPL - Free Report) by 38.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 998,207 shares of the utilities provider's stock after purchasing an additional 275,693 shares during the period. BROOKFIELD Corp ON owned about 0.14% of PPL worth $36,045,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. First Hawaiian Bank grew its holdings in PPL by 11.8% during the 1st quarter. First Hawaiian Bank now owns 45,625 shares of the utilities provider's stock valued at $1,648,000 after buying an additional 4,813 shares during the last quarter. Strs Ohio acquired a new stake in PPL during the 1st quarter valued at $3,121,000. Intrua Financial LLC acquired a new stake in PPL during the 1st quarter valued at $222,000. Belpointe Asset Management LLC acquired a new stake in PPL during the 1st quarter valued at $540,000. Finally, Fortis Capital Advisors LLC acquired a new stake in PPL during the 1st quarter valued at $540,000. 76.99% of the stock is owned by hedge funds and other institutional investors.

PPL Trading Up 0.5%

Shares of PPL stock traded up $0.19 during mid-day trading on Friday, hitting $36.17. 2,841,568 shares of the company's stock were exchanged, compared to its average volume of 4,547,422. PPL Corporation has a fifty-two week low of $31.22 and a fifty-two week high of $37.38. The stock has a market cap of $26.74 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 2.60 and a beta of 0.65. 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 has a 50-day simple moving average of $36.02 and a two-hundred day simple moving average of $35.17.

PPL (NYSE:PPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.05). PPL had a net margin of 11.22% and a return on equity of 8.81%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the business posted $0.38 EPS. PPL's revenue was up 7.7% compared to the same quarter last year. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. Equities analysts expect that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Dividend Announcement

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 issued a $0.2725 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.09 dividend on an annualized basis and a yield of 3.0%. PPL's dividend payout ratio (DPR) is presently 81.34%.

Insiders Place Their Bets

In related news, COO David J. Bonenberger sold 2,165 shares of PPL stock in a transaction 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 transaction, the chief operating officer owned 45,560 shares in the company, valued at approximately $1,633,781.60. This trade represents a 4.54% 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 the SEC website. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PPL shares. Morgan Stanley reiterated an "overweight" rating on shares of PPL in a report on Thursday, August 21st. Wall Street Zen cut PPL from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Finally, Barclays upgraded PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Two research 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 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.