Kettle Hill Capital Management LLC Has $7.70 Million Stock Holdings in PPL Corporation $PPL

Key Points

• Kettle Hill Capital Management LLC sold 36.3% of its shares in PPL Corporation, now holding 213,346 shares valued at approximately $7.7 million, making PPL its 19th largest holding.
• PPL Corporation reported a quarterly earnings per share (EPS) of $0.32, missing estimates by $0.05, despite revenue of $2.03 billion which beat analyst expectations.
• The company announced a quarterly dividend of $0.2725 per share, scheduled for payment on October 1st, representing a 3.0% dividend yield.

Kettle Hill Capital Management LLC decreased its position in PPL Corporation (NYSE:PPL - Free Report) by 36.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 213,346 shares of the utilities provider's stock after selling 121,547 shares during the quarter. PPL accounts for approximately 2.1% of Kettle Hill Capital Management LLC's holdings, making the stock its 19th biggest holding. Kettle Hill Capital Management LLC's holdings in PPL were worth $7,704,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Invesco Ltd. grew its holdings in shares of PPL by 1.7% in the 1st quarter. Invesco Ltd. now owns 27,938,545 shares of the utilities provider's stock worth $1,008,861,000 after purchasing an additional 472,979 shares during the last quarter. Boston Partners grew its holdings in shares of PPL by 37.2% in the 1st quarter. Boston Partners now owns 13,062,423 shares of the utilities provider's stock worth $471,756,000 after purchasing an additional 3,544,282 shares during the last quarter. Northern Trust Corp grew its holdings in shares of PPL by 0.3% in the 1st quarter. Northern Trust Corp now owns 8,598,814 shares of the utilities provider's stock worth $310,503,000 after purchasing an additional 28,589 shares during the last quarter. Federated Hermes Inc. grew its holdings 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 worth $288,815,000 after purchasing an additional 109,160 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of PPL by 3.9% in the 1st quarter. Alliancebernstein L.P. now owns 7,881,695 shares of the utilities provider's stock worth $284,608,000 after purchasing an additional 297,999 shares during the last quarter. Institutional investors own 76.99% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PPL. Morgan Stanley reiterated an "overweight" rating on shares of PPL in a research report on Thursday, August 21st. Barclays upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Wall Street Zen downgraded shares of PPL from a "hold" rating to a "sell" rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $36.70.

PPL Trading Down 1.5%

PPL stock traded down $0.53 during trading hours on Friday, reaching $35.97. 4,089,003 shares of the company's stock traded hands, compared to its average volume of 6,891,858. 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 Corporation has a fifty-two week low of $31.22 and a fifty-two week high of $37.38. The firm has a market capitalization of $26.60 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.58 and a beta of 0.65. The firm's 50 day moving average is $35.81 and its 200-day moving average is $35.14.

PPL (NYSE:PPL - Get Free Report) last released 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). PPL had a net margin of 11.22% and a return on equity of 8.81%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business'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. On average, analysts predict that PPL Corporation will post 1.83 earnings per share for the current year.

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.2725 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.09 dividend on an annualized basis and a yield of 3.0%. PPL's dividend payout ratio is presently 81.34%.

Insider Buying and Selling at PPL

In related news, COO David J. Bonenberger sold 2,165 shares of the 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 sale, the chief operating officer directly 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 corporate 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.