Royal Bank of Canada Has $73.68 Million Position in PPL Corporation $PPL

Key Points

• Royal Bank of Canada has increased its stake in PPL Corporation by 34.0%, now owning over 2 million shares worth approximately $73.7 million.
• PPL Corporation recently reported earnings per share (EPS) of $0.32 for the last quarter, missing estimates slightly, while quarterly revenue increased 7.7% year-over-year.
• The company declared a quarterly dividend of $0.2725 per share, with an annualized yield of 3.0%, set to be paid on October 1st.

Royal Bank of Canada grew its stake in PPL Corporation (NYSE:PPL - Free Report) by 34.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,040,409 shares of the utilities provider's stock after purchasing an additional 517,744 shares during the period. Royal Bank of Canada owned about 0.28% of PPL worth $73,679,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pinnacle Bancorp Inc. grew its position in PPL by 141.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after purchasing an additional 423 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in PPL by 94.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 818 shares of the utilities provider's stock worth $30,000 after purchasing an additional 397 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of PPL during the 1st quarter valued at about $32,000. Truvestments Capital LLC boosted its position in shares of PPL by 5,352.9% during the 1st quarter. Truvestments Capital LLC now owns 927 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 910 shares in the last quarter. Finally, AlphaQuest LLC raised its position in PPL by 97,800.0% in the first quarter. AlphaQuest LLC now owns 979 shares of the utilities provider's stock worth $35,000 after purchasing an additional 978 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Price Performance

PPL stock traded down $0.53 during trading on Friday, hitting $35.97. 4,089,003 shares of the stock traded hands, compared to its average volume of 6,867,004. PPL Corporation has a one year low of $31.22 and a one year high of $37.38. The stock has a market cap of $26.60 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 2.58 and a beta of 0.65. The company has a 50 day simple moving average of $35.81 and a 200 day simple moving average of $35.13. 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 results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.05). PPL had a net margin of 11.22% and a return on equity of 8.81%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the business earned $0.38 earnings per share. The company's revenue for the quarter was up 7.7% on a year-over-year basis. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. Equities analysts expect that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Announces Dividend

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 paid a $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.0%. PPL's payout ratio is currently 81.34%.

Analyst Upgrades and Downgrades

PPL has been the subject of several recent research reports. Morgan Stanley reissued an "overweight" rating on shares of PPL in a research report on Thursday, August 21st. Wall Street Zen lowered shares of PPL from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $36.70.

Insider Buying and Selling at PPL

In related news, COO David J. Bonenberger sold 2,165 shares of the firm'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 value of $77,636.90. Following the completion of the sale, the chief operating officer owned 45,560 shares of the company's stock, valued at $1,633,781.60. This trade represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.28% of the stock is currently owned by corporate insiders.

About PPL

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.