PPL Corporation $PPL Position Trimmed by Ascent Group LLC

Key Points

• Ascent Group LLC reduced its holdings in PPL Corporation by 19.1%, selling 13,034 shares and retaining 55,180 shares worth approximately $1,993,000.
• PPL's quarterly revenue increased by 7.7% year-over-year, totaling $2.03 billion, although it reported earnings per share of $0.32, missing the consensus estimate by $0.05.
• The company declared a quarterly dividend of $0.2725 per share, set to be paid on October 1st, representing an annualized dividend yield of 3.0%.

Ascent Group LLC reduced its stake in PPL Corporation (NYSE:PPL - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,180 shares of the utilities provider's stock after selling 13,034 shares during the period. Ascent Group LLC's holdings in PPL were worth $1,993,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. boosted its position in PPL by 3.0% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,882 shares of the utilities provider's stock valued at $429,000 after buying an additional 350 shares during the last quarter. Voleon Capital Management LP purchased a new position in PPL in the 1st quarter valued at about $346,000. Fred Alger Management LLC lifted its position in shares of PPL by 25.2% during the first quarter. Fred Alger Management LLC now owns 391,828 shares of the utilities provider's stock worth $14,229,000 after purchasing an additional 78,830 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of PPL by 10.4% during the first quarter. Ashton Thomas Private Wealth LLC now owns 6,807 shares of the utilities provider's stock worth $247,000 after purchasing an additional 641 shares during the last quarter. Finally, Resources Management Corp CT ADV lifted its position in shares of PPL by 7.6% during the first quarter. Resources Management Corp CT ADV now owns 5,650 shares of the utilities provider's stock worth $204,000 after purchasing an additional 400 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on PPL. Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Wall Street Zen raised shares of PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley reiterated an "overweight" rating on shares of PPL in a research note on Thursday, August 21st. Finally, Guggenheim increased their price objective on shares of PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $36.70.

Insider Activity 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 transaction of $77,636.90. Following the transaction, the chief operating officer owned 45,560 shares in the company, valued at $1,633,781.60. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is owned by corporate insiders.

PPL Stock Performance

Shares of NYSE:PPL traded up $0.11 during trading hours on Wednesday, hitting $36.63. The stock had a trading volume of 3,628,126 shares, compared to its average volume of 7,384,583. The stock's fifty day simple moving average is $35.38 and its 200 day simple moving average is $35.01. PPL Corporation has a 1-year low of $31.22 and a 1-year high of $37.38. The firm has a market capitalization of $27.08 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.62 and a beta of 0.64. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.49 and a current ratio of 0.59.

PPL (NYSE:PPL - Get Free Report) last announced 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 net margin of 11.22% and a return on equity of 8.81%. The firm 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 business posted $0.38 EPS. PPL's revenue for the quarter was up 7.7% compared to the same quarter last year. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. Sell-side analysts anticipate 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 will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, September 10th. PPL's dividend payout ratio (DPR) is currently 81.34%.

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.