Fortis Capital Advisors LLC Buys New Position in PPL Corporation $PPL

Key Points

• Fortis Capital Advisors LLC has made a new investment in PPL Corporation by purchasing 14,961 shares valued at approximately $540,000 during the first quarter.
• PPL Corporation's quarterly earnings report showed $0.32 earnings per share, missing the consensus estimate of $0.37, but revenue rose to $2.03 billion compared to expectations of $1.99 billion.
• The company has declared a quarterly dividend of $0.2725 per share, representing a 3.0% yield, with payment scheduled for October 1st.

Fortis Capital Advisors LLC acquired a new position in PPL Corporation (NYSE:PPL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,961 shares of the utilities provider's stock, valued at approximately $540,000.

Several other hedge funds also recently made changes to their positions in the company. CreativeOne Wealth LLC increased its stake in shares of PPL by 3.0% in the first quarter. CreativeOne Wealth LLC now owns 10,422 shares of the utilities provider's stock worth $376,000 after buying an additional 302 shares during the period. Harbour Investments Inc. raised its holdings in PPL by 16.0% in the 1st quarter. Harbour Investments Inc. now owns 2,207 shares of the utilities provider's stock worth $80,000 after purchasing an additional 304 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in PPL by 2.5% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 12,998 shares of the utilities provider's stock worth $469,000 after purchasing an additional 322 shares in the last quarter. Stock Yards Bank & Trust Co. raised its holdings in PPL by 5.0% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 6,953 shares of the utilities provider's stock worth $251,000 after purchasing an additional 329 shares in the last quarter. Finally, WealthTrust Axiom LLC raised its holdings in PPL by 4.1% in the 1st quarter. WealthTrust Axiom LLC now owns 8,579 shares of the utilities provider's stock worth $310,000 after purchasing an additional 337 shares in the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PPL

In other news, COO David J. Bonenberger sold 2,165 shares of the 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 sale, 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 is accessible through the SEC website. 0.28% of the stock is currently owned by insiders.

PPL Stock Down 0.7%

Shares of PPL stock traded down $0.26 during mid-day trading on Tuesday, hitting $35.72. The stock had a trading volume of 1,047,192 shares, compared to its average volume of 5,521,736. The firm's 50-day moving average is $36.06 and its two-hundred day moving average is $35.18. PPL Corporation has a 12-month low of $31.22 and a 12-month high of $37.38. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.49. The firm has a market capitalization of $26.41 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 2.60 and a beta of 0.65.

PPL (NYSE:PPL - Get Free Report) last announced its 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). PPL had a return on equity of 8.81% and a net margin of 11.22%.The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.99 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The firm's quarterly 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. On average, analysts predict that PPL Corporation will post 1.83 earnings per share for the current fiscal year.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, September 10th. PPL's dividend payout ratio is presently 81.34%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. Morgan Stanley restated an "overweight" rating on shares of PPL in a research note on Thursday, August 21st. Finally, Wall Street Zen lowered shares of PPL from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, PPL presently has an average rating of "Buy" and an average price target of $36.67.

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.