Martingale Asset Management L P Buys 143,879 Shares of PPL Corporation $PPL

Key Points

• Martingale Asset Management increased its holdings in PPL Corporation by 67.6%, acquiring an additional 143,879 shares, bringing its total to 356,828 shares valued at approximately $12.9 million.
• PPL Corporation reported $0.32 earnings per share (EPS) for the last quarter, missing analyst expectations of $0.37, although the revenue was up 7.7% year-over-year at $2.03 billion.
• The stock currently holds a market cap of $27.40 billion, with a PE ratio of 27.65, and has recently received an upgraded "hold" rating from Wall Street Zen.

Martingale Asset Management L P lifted its stake in PPL Corporation (NYSE:PPL - Free Report) by 67.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 356,828 shares of the utilities provider's stock after purchasing an additional 143,879 shares during the period. Martingale Asset Management L P's holdings in PPL were worth $12,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pinnacle Bancorp Inc. lifted its holdings 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 last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in PPL by 94.3% in the first 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 during the period. TruNorth Capital Management LLC purchased a new stake in shares of PPL in the first quarter valued at approximately $32,000. HM Payson & Co. boosted its position in shares of PPL by 1,057.6% during the 1st quarter. HM Payson & Co. now owns 984 shares of the utilities provider's stock worth $36,000 after purchasing an additional 899 shares in the last quarter. Finally, AllSquare Wealth Management LLC acquired a new position in PPL during the first quarter worth about $45,000. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Price Performance

Shares of NYSE:PPL traded up $0.1740 during trading on Friday, reaching $36.8940. The company had a trading volume of 3,406,655 shares, compared to its average volume of 7,438,064. PPL Corporation has a twelve month low of $31.22 and a twelve month high of $37.38. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.49 and a current ratio of 0.59. The firm's fifty day moving average is $35.26 and its 200 day moving average is $34.97. The firm has a market capitalization of $27.28 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64.

PPL (NYSE:PPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.05). PPL had a return on equity of 8.81% and a net margin of 11.22%.The company 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 firm earned $0.38 earnings per share. The business'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. On average, equities analysts forecast that PPL Corporation will post 1.83 EPS for the current year.

PPL Announces Dividend

The firm also recently disclosed 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 dividend yield of 3.0%. PPL's dividend payout ratio is presently 81.34%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PPL shares. Wall Street Zen raised PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Guggenheim boosted their price target on PPL from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Morgan Stanley reduced their price target on PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $36.70.

Insider Activity

In related news, COO David J. Bonenberger sold 2,165 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $35.86, for a total transaction of $77,636.90. Following the transaction, the chief operating officer directly owned 45,560 shares in the company, valued at $1,633,781.60. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.28% of the company's stock.

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.