Hsbc Holdings PLC Sells 119,414 Shares of PPL Corporation $PPL

Key Points

• Hsbc Holdings PLC reduced its stake in PPL Corporation by 6.3% in Q1, holding 1,763,503 shares valued at approximately $63.57 million after selling 119,414 shares.
• Several hedge funds adjusted their positions in PPL, with Mirae Asset increasing its stake by 17.5% and Oppenheimer & Co. raising theirs by an impressive 45.0% during the same period.
• PPL Corporation reported a miss on earnings with $0.32 EPS compared to the consensus estimate of $0.37, despite a revenue increase of 7.7% year-over-year to $2.03 billion.

Hsbc Holdings PLC trimmed its position in PPL Corporation (NYSE:PPL - Free Report) by 6.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,763,503 shares of the utilities provider's stock after selling 119,414 shares during the period. Hsbc Holdings PLC owned about 0.24% of PPL worth $63,572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Harbour Investments Inc. boosted its stake in PPL by 16.0% in the first quarter. Harbour Investments Inc. now owns 2,207 shares of the utilities provider's stock valued at $80,000 after acquiring an additional 304 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of PPL by 2.5% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 12,998 shares of the utilities provider's stock valued at $469,000 after buying an additional 322 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its stake in shares of PPL by 5.0% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 6,953 shares of the utilities provider's stock valued at $251,000 after buying an additional 329 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of PPL by 3.2% during the 1st quarter. HighPoint Advisor Group LLC now owns 11,392 shares of the utilities provider's stock valued at $415,000 after buying an additional 354 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its stake in shares of PPL by 1.2% during the 1st quarter. HBK Sorce Advisory LLC now owns 30,367 shares of the utilities provider's stock valued at $1,097,000 after buying an additional 372 shares in the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Price Performance

Shares of NYSE:PPL traded up $0.09 during trading on Tuesday, reaching $36.60. The company had a trading volume of 1,609,579 shares, compared to its average volume of 5,618,748. The company has a fifty day moving average of $35.32 and a two-hundred day moving average of $35.00. The stock has a market capitalization of $27.06 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. PPL Corporation has a 12 month low of $31.22 and a 12 month high of $37.38. 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 released its 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 business 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 posted $0.38 EPS. PPL'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 research analysts forecast 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. Investors of record on Wednesday, September 10th will be issued a dividend of $0.2725 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.09 annualized dividend and a dividend yield of 3.0%. PPL's dividend payout ratio (DPR) is currently 81.34%.

Insider Activity at PPL

In related news, COO David J. Bonenberger sold 2,165 shares of the stock in a transaction 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 of the company's stock, valued at approximately $1,633,781.60. This trade represents a 4.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of PPL from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Barclays upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. Morgan Stanley restated an "overweight" rating on shares of PPL in a research note on Thursday, August 21st. Finally, Guggenheim upped their price target on shares of PPL from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $36.70.

PPL 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.