Berkshire Asset Management LLC PA Trims Stock Position in PPL Corporation $PPL

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Berkshire Asset Management LLC PA lessened its stake in shares of PPL Corporation (NYSE:PPL - Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,153,694 shares of the utilities provider's stock after selling 67,248 shares during the quarter. PPL makes up about 1.9% of Berkshire Asset Management LLC PA's portfolio, making the stock its 13th biggest position. Berkshire Asset Management LLC PA owned approximately 0.16% of PPL worth $41,095,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its position in PPL by 141.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 423 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in PPL by 94.3% during the 1st 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 in the last quarter. TruNorth Capital Management LLC bought a new stake in PPL during the 1st quarter valued at $32,000. HM Payson & Co. boosted its position in PPL by 1,057.6% during the 1st quarter. HM Payson & Co. now owns 984 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 899 shares in the last quarter. Finally, AllSquare Wealth Management LLC bought a new stake in PPL during the 1st quarter valued at $45,000. Institutional investors own 76.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PPL shares. Wall Street Zen raised PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley decreased their price objective on PPL from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Barclays upgraded PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Finally, Guggenheim increased their price objective on PPL from $38.00 to $40.00 and gave the company a "buy" rating in a report 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 MarketBeat, PPL presently has an average rating of "Buy" and an average price target of $36.70.

PPL Stock Up 0.5%

Shares of PPL traded up $0.1740 during midday trading on Friday, hitting $36.8940. 3,406,655 shares of the company's stock traded hands, compared to its average volume of 7,437,267. The stock has a market capitalization of $27.28 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 1.07. The firm's fifty day moving average is $35.26 and its 200-day moving average is $34.98. PPL Corporation has a 1 year low of $31.22 and a 1 year high of $37.38.

PPL (NYSE:PPL - Get Free Report) last issued its earnings results 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 firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.99 billion. PPL had a return on equity of 8.81% and a net margin of 11.22%.The business's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. As a group, sell-side analysts anticipate that PPL Corporation will post 1.83 earnings per share for the current year.

PPL Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.0%. PPL's dividend payout ratio (DPR) is 81.34%.

Insider Transactions at PPL

In related news, COO David J. Bonenberger sold 2,165 shares of the firm'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. This trade represents a 4.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is owned by company insiders.

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.