PPL Corporation (NYSE:PPL) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC reduced its holdings in PPL Corporation by 31.5%, selling 58,011 shares during the 1st quarter, leaving them with 126,329 shares valued at approximately $4.56 million.
• PPL Corporation reported earnings per share of $0.32 for the latest quarter, falling short of analyst estimates, but achieved a 7.7% year-over-year revenue increase to $2.03 billion.
• The company announced a quarterly dividend of $0.2725 per share, which translates to an annualized dividend of $1.09 and a yield of 3.0%.

New Age Alpha Advisors LLC cut its stake in shares of PPL Corporation (NYSE:PPL - Free Report) by 31.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,329 shares of the utilities provider's stock after selling 58,011 shares during the period. New Age Alpha Advisors LLC's holdings in PPL were worth $4,562,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PPL. Pinnacle Bancorp Inc. increased its position 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 acquiring an additional 423 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position 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 acquiring an additional 397 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of PPL in the first quarter valued at approximately $32,000. HM Payson & Co. grew its holdings in shares of PPL by 1,057.6% in the first quarter. HM Payson & Co. now owns 984 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 899 shares in the last quarter. Finally, AllSquare Wealth Management LLC acquired a new position in shares of PPL in the first quarter valued at approximately $45,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PPL shares. Barclays upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Morgan Stanley dropped their price objective on shares of PPL from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Guggenheim lifted their price objective on shares of PPL from $38.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $36.70.

PPL Stock Up 0.0%

NYSE PPL traded up $0.01 on Friday, hitting $36.38. 3,591,932 shares of the stock were exchanged, compared to its average volume of 7,110,328. 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 fifty-two week low of $29.97 and a fifty-two week high of $36.99. The company has a market cap of $26.90 billion, a PE ratio of 27.15, a PEG ratio of 2.61 and a beta of 0.64. The company has a 50-day moving average price of $34.73 and a 200-day moving average price of $34.74.

PPL (NYSE:PPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.32 EPS 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 firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm earned $0.38 EPS. The company's revenue was up 7.7% on a year-over-year basis. Sell-side analysts anticipate that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, June 10th. PPL's payout ratio is currently 81.34%.

Insider Buying and Selling at PPL

In other news, COO David J. Bonenberger sold 2,165 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $35.86, for a total transaction of $77,636.90. Following the completion of the sale, the chief operating officer owned 45,560 shares in the company, valued at approximately $1,633,781.60. The trade was a 4.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.28% of the company's stock.

PPL Company 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.