Fortis Capital Advisors LLC purchased a new stake in shares of PPL Corporation (NYSE:PPL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,961 shares of the utilities provider's stock, valued at approximately $540,000.
Other institutional investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. increased its stake in shares of PPL by 141.0% during the first quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock valued at $26,000 after buying an additional 423 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of PPL by 94.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 818 shares of the utilities provider's stock valued at $30,000 after buying an additional 397 shares during the period. Ancora Advisors LLC increased its stake in shares of PPL by 8,350.0% during the first quarter. Ancora Advisors LLC now owns 845 shares of the utilities provider's stock valued at $31,000 after buying an additional 835 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of PPL during the first quarter valued at $32,000. Finally, Truvestments Capital LLC increased its stake in shares of PPL by 5,352.9% during the first 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 period. Hedge funds and other institutional investors own 76.99% of the company's stock.
PPL Trading Up 0.2%
PPL stock opened at $35.79 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. PPL Corporation has a 52 week low of $31.22 and a 52 week high of $37.38. The company has a market capitalization of $26.47 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 2.57 and a beta of 0.65. The stock has a 50-day moving average price of $35.92 and a 200 day moving average price of $35.15.
PPL (NYSE:PPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.05). The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.99 billion. PPL had a net margin of 11.22% and a return on equity of 8.81%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. Sell-side analysts anticipate that PPL Corporation will post 1.83 EPS for the current year.
PPL Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, September 10th. PPL's dividend payout ratio (DPR) is currently 81.34%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on PPL. Barclays upgraded PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. Wall Street Zen downgraded PPL from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of PPL in a report on Thursday, August 21st. Two investment 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 stock currently has an average rating of "Buy" and an average target price of $36.70.
View Our Latest Report on PPL
Insiders Place Their Bets
In related news, COO David J. Bonenberger sold 2,165 shares of PPL stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $35.86, for a total transaction of $77,636.90. Following the completion of the transaction, the chief operating officer directly 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 this hyperlink. Corporate insiders own 0.28% of the company's stock.
PPL Profile
(
Free Report)
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.
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