Price T Rowe Associates Inc. MD Has $39.14 Million Stock Holdings in PPL Corporation $PPL

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in PPL Corporation by 1.8%, owning approximately 1,083,934 shares valued at $39.14 million at the end of the first quarter.
• PPL Corporation reported a quarterly earnings miss with earnings per share of $0.32, falling short of analysts' expectations of $0.37, despite a 7.7% year-over-year revenue increase.
• The company's quarterly dividend of $0.2725 will be paid on October 1st, representing a 3.0% yield and an annualized dividend of $1.09.

Price T Rowe Associates Inc. MD lifted its position in PPL Corporation (NYSE:PPL - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,083,934 shares of the utilities provider's stock after acquiring an additional 18,967 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.15% of PPL worth $39,142,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. raised its holdings in PPL by 141.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after buying an additional 423 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of PPL by 94.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 818 shares of the utilities provider's stock valued at $30,000 after buying an additional 397 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of PPL in the first quarter valued at approximately $32,000. HM Payson & Co. boosted its holdings in shares of PPL by 1,057.6% in the first quarter. HM Payson & Co. now owns 984 shares of the utilities provider's stock valued at $36,000 after buying an additional 899 shares during the period. Finally, AllSquare Wealth Management LLC acquired a new position in shares of PPL in the first quarter valued at approximately $45,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 shares were 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 directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.28% of the company's stock.

PPL Price Performance

NYSE PPL opened at $36.63 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. PPL Corporation has a 12-month low of $31.22 and a 12-month high of $37.38. The company has a market capitalization of $27.08 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. The firm's 50 day moving average is $35.44 and its 200-day moving average is $35.02.

PPL (NYSE:PPL - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the business earned $0.38 earnings per share. 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 anticipate that PPL Corporation will post 1.83 earnings per share for the current fiscal 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. 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%.

Analyst Ratings Changes

PPL has been the subject of several research analyst reports. Wall Street Zen upgraded shares of PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Morgan Stanley reiterated an "overweight" rating on shares of PPL in a report on Thursday, August 21st. Guggenheim upped their price target on shares of PPL from $38.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Barclays upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $36.70.

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.

Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corporation (NYSE:PPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.