PPL Corporation (NYSE:PPL) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in PPL Corporation by 15.5% during the first quarter, now holding 59,115 shares valued at $2.13 million.
• PPL's recent quarterly earnings showed an EPS of $0.32, missing expectations of $0.37, despite revenues of $2.03 billion exceeding analyst forecasts.
• The company recently declared a quarterly dividend of $0.2725, representing an annualized yield of 3.0% and a payout ratio of 81.34%.

Mizuho Securities USA LLC cut its stake in shares of PPL Corporation (NYSE:PPL - Free Report) by 15.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 59,115 shares of the utilities provider's stock after selling 10,828 shares during the period. Mizuho Securities USA LLC's holdings in PPL were worth $2,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in PPL by 12.1% during the 4th quarter. Bank of America Corp DE now owns 12,672,428 shares of the utilities provider's stock worth $411,347,000 after acquiring an additional 1,371,000 shares in the last quarter. Northern Trust Corp raised its position in shares of PPL by 5.8% in the 4th quarter. Northern Trust Corp now owns 8,570,225 shares of the utilities provider's stock valued at $278,190,000 after purchasing an additional 468,789 shares in the last quarter. Federated Hermes Inc. raised its position in shares of PPL by 1.4% in the 1st quarter. Federated Hermes Inc. now owns 7,998,199 shares of the utilities provider's stock valued at $288,815,000 after purchasing an additional 109,160 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of PPL by 2.8% in the 4th quarter. Cohen & Steers Inc. now owns 6,987,399 shares of the utilities provider's stock valued at $226,811,000 after purchasing an additional 188,500 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of PPL by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,121,253 shares of the utilities provider's stock valued at $184,928,000 after purchasing an additional 31,110 shares in the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Stock Performance

Shares of NYSE PPL traded down $0.13 during trading on Thursday, reaching $37.12. The stock had a trading volume of 9,394,538 shares, compared to its average volume of 5,633,131. PPL Corporation has a one year low of $30.76 and a one year high of $37.31. 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 stock has a market cap of $27.45 billion, a PE ratio of 27.70, a P/E/G ratio of 2.65 and a beta of 0.64. The firm's 50 day moving average price is $34.87 and its two-hundred day moving average price is $34.80.

PPL (NYSE:PPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.05). The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.99 billion. PPL had a net margin of 11.22% and a return on equity of 8.81%. PPL's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. On average, research analysts forecast that PPL Corporation will post 1.83 earnings per share for the current fiscal year.

PPL Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th were paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, June 10th. PPL's dividend payout ratio is presently 81.34%.

Insider Buying and Selling

In related news, COO David J. Bonenberger sold 2,165 shares of the company's stock in a transaction 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 $1,633,781.60. This represents a 4.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen raised PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley cut their target price on PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Barclays raised PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Guggenheim upped their target price on PPL from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $36.70.

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.