Rafferty Asset Management LLC Has $2.40 Million Holdings in PPL Corporation $PPL

Key Points

• Rafferty Asset Management LLC reduced its holdings in PPL Corporation by 19.8%, now owning 66,437 shares valued at approximately $2.40 million.
• Multiple hedge funds increased their stakes in PPL during the 1st quarter, with Pinnacle Bancorp Inc. and HM Payson & Co. reporting significant increases of 141.0% and 1,057.6%, respectively.
• PPL Corporation announced a quarterly dividend of $0.2725 per share, representing a yield of 3.0%, with a dividend payout ratio of 81.34%.

Rafferty Asset Management LLC reduced its position in PPL Corporation (NYSE:PPL - Free Report) by 19.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,437 shares of the utilities provider's stock after selling 16,416 shares during the period. Rafferty Asset Management LLC's holdings in PPL were worth $2,399,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pinnacle Bancorp Inc. increased its position in PPL by 141.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after purchasing an additional 423 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of 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 during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of PPL during the 1st quarter valued at about $32,000. AlphaQuest LLC increased its holdings in shares of PPL by 97,800.0% during the 1st quarter. AlphaQuest LLC now owns 979 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 978 shares during the last quarter. Finally, HM Payson & Co. increased its holdings in shares of 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 during the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO David J. Bonenberger sold 2,165 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $35.86, for a total transaction of $77,636.90. Following the completion of the sale, the chief operating officer owned 45,560 shares in the company, valued at $1,633,781.60. This represents a 4.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PPL. Morgan Stanley reissued an "overweight" rating on shares of PPL in a report on Thursday, August 21st. Barclays raised PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Finally, Wall Street Zen raised PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $36.70.

PPL Price Performance

Shares of NYSE:PPL opened at $36.52 on Friday. The business has a 50 day moving average price of $35.56 and a 200 day moving average price of $35.05. PPL Corporation has a twelve month low of $31.22 and a twelve month high of $37.38. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 2.62 and a beta of 0.64. 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 (NYSE:PPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share 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 quarter in the previous year, the company earned $0.38 EPS. PPL's revenue for the quarter was up 7.7% compared to the same quarter last year. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. Research analysts predict that PPL Corporation will post 1.83 earnings per share for the current year.

PPL Dividend Announcement

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 paid a dividend of $0.2725 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.09 annualized dividend and a yield of 3.0%. PPL's dividend payout ratio is presently 81.34%.

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.

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