Panagora Asset Management Inc. Invests $4.67 Million in PPL Corporation $PPL

Key Points

• Panagora Asset Management Inc. has acquired 129,384 shares of PPL Corporation valued at approximately $4.67 million, reflecting renewed interest from institutional investors in the utilities provider.
• PPL Corporation has reported quarterly earnings of $0.32 per share, missing estimates, but its revenue increased by 7.7% year-over-year, totaling $2.03 billion.
• The company announced a dividend of $0.2725 per share, representing an annualized yield of 3.0%, with a payout ratio of 81.34%.

Panagora Asset Management Inc. acquired a new position in PPL Corporation (NYSE:PPL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 129,384 shares of the utilities provider's stock, valued at approximately $4,672,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vident Advisory LLC lifted its holdings in PPL by 48.4% in the 1st quarter. Vident Advisory LLC now owns 22,853 shares of the utilities provider's stock worth $825,000 after buying an additional 7,455 shares during the period. GKV Capital Management Co. Inc. purchased a new stake in PPL in the 1st quarter worth approximately $146,000. Tema Etfs LLC purchased a new stake in PPL in the 1st quarter worth approximately $2,037,000. Beck Bode LLC purchased a new stake in PPL in the 1st quarter worth approximately $217,000. Finally, Truvestments Capital LLC lifted its holdings in PPL by 5,352.9% in the 1st quarter. Truvestments Capital LLC now owns 927 shares of the utilities provider's stock worth $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.

Insider Transactions at PPL

In other news, COO David J. Bonenberger sold 2,165 shares of the business's 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 completion of the transaction, the chief operating officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.28% of the company's stock.

PPL Stock Down 1.5%

NYSE:PPL traded down $0.53 during trading hours on Friday, reaching $35.97. 4,089,003 shares of the company traded hands, compared to its average volume of 6,867,004. The business's 50-day moving average price is $35.81 and its two-hundred day moving average price is $35.12. The stock has a market capitalization of $26.60 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.62 and a beta of 0.65. PPL Corporation has a 1 year low of $31.22 and a 1 year high of $37.38. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 1.07.

PPL (NYSE:PPL - Get Free Report) last announced its quarterly earnings data 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). 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. Analysts predict that PPL Corporation will post 1.83 earnings per share for the current year.

PPL Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.2725 per share. 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 payout ratio is presently 81.34%.

Analyst Ratings Changes

PPL has been the subject of several research analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of PPL in a report on Thursday, August 21st. Barclays upgraded PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Wall Street Zen cut PPL from a "hold" rating to a "sell" rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company's stock. 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.