PPL Corporation $PPL Stock Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its PPL stake by 8.3%, selling 268,522 shares and retaining approximately 2.98 million shares worth $108.4 million. Institutional investors and hedge funds collectively own 76.99% of PPL.
• Analysts maintain a generally positive view, with 10 Buy ratings and four Holds; PPL has a “Moderate Buy” consensus rating and an average price target of $40.31, above its recent $32.05 price.
• PPL reported quarterly EPS of $0.33, slightly below expectations, while revenue rose 4.2% year over year to $2.11 billion. The company declared a quarterly dividend of $0.285 per share, representing a 3.6% annualized yield.

Envestnet Asset Management Inc. cut its holdings in shares of PPL Corporation (NYSE:PPL - Free Report) by 8.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,981,883 shares of the utilities provider's stock after selling 268,522 shares during the quarter. Envestnet Asset Management Inc. owned about 0.40% of PPL worth $108,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. increased its holdings in shares of PPL by 494.5% during the 2nd quarter. Washington Trust Advisors Inc. now owns 862 shares of the utilities provider's stock worth $31,000 after buying an additional 717 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in PPL during the 2nd quarter worth approximately $42,000. Covestor Ltd raised its holdings in PPL by 206.7% in the second quarter. Covestor Ltd now owns 1,291 shares of the utilities provider's stock valued at $47,000 after buying an additional 870 shares during the period. Root Financial Partners LLC raised its holdings in PPL by 72.5% in the first quarter. Root Financial Partners LLC now owns 2,587 shares of the utilities provider's stock valued at $99,000 after buying an additional 1,087 shares during the period. Finally, Silvant Capital Management LLC acquired a new position in PPL during the second quarter valued at approximately $119,000. 76.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on PPL. JPMorgan Chase & Co. boosted their price objective on shares of PPL from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. Morgan Stanley cut their target price on shares of PPL from $42.00 to $39.00 and set an "overweight" rating on the stock in a research note on Friday, September 18th. BTIG Research restated a "buy" rating on shares of PPL in a report on Thursday, June 4th. Jefferies Financial Group decreased their price target on shares of PPL from $48.00 to $44.00 and set a "buy" rating for the company in a research report on Tuesday, August 25th. Finally, Evercore set a $42.00 price objective on PPL in a research report on Monday, August 17th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $40.31.

PPL Price Performance

NYSE PPL opened at $32.05 on Friday. PPL Corporation has a 1 year low of $31.56 and a 1 year high of $40.10. The company has a fifty day simple moving average of $34.75 and a 200 day simple moving average of $36.19. The company has a current ratio of 0.91, a quick ratio of 0.73 and a debt-to-equity ratio of 1.32. The company has a market cap of $24.12 billion, a P/E ratio of 18.96, a P/E/G ratio of 3.12 and a beta of 0.57.

PPL (NYSE:PPL - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.19 billion. PPL had a net margin of 13.47% and a return on equity of 9.33%. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. PPL has set its FY 2026 guidance at 1.900-1.980 EPS. On average, sell-side analysts predict that PPL Corporation will post 1.95 EPS for the current year.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be given a dividend of $0.2850 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.14 dividend on an annualized basis and a yield of 3.6%. PPL's payout ratio is 67.46%.

Insider Buying and Selling at PPL

In other PPL news, Director Kristen Robinson sold 37,107 shares of the stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total value of $929,530.35. Following the completion of the sale, the director directly owned 222,897 shares of the company's stock, valued at $5,583,569.85. This represents a 14.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ashley Johnson sold 34,993 shares of the firm's stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total transaction of $772,645.44. Following the completion of the sale, the chief financial officer owned 561,482 shares in the company, valued at $12,397,522.56. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.34% of the stock is owned by corporate insiders.

About PPL

PPL Corporation NYSE: PPL is an energy and utility holding company headquartered in Allentown, Pennsylvania. Through its regulated utility subsidiaries, the company delivers electricity and natural gas to residential, commercial, and industrial customers, while also operating and maintaining generation, transmission, and distribution infrastructure.

PPL's Pennsylvania operations are conducted through PPL Electric Utilities, which provides electric delivery service across much of central and eastern Pennsylvania.

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