XTX Topco Ltd Makes New Investment in PPL Corporation (NYSE:PPL)

Key Points

• XTX Topco Ltd has acquired a new stake in PPL Corporation, totaling approximately $357,000 by purchasing 9,884 shares.
• PPL Corporation reported a net revenue of $2.03 billion for the latest quarter, surpassing estimates, though its earnings per share of $0.32 fell short of the expected $0.37.
• The company recently announced a quarterly dividend of $0.2725 per share, translating to an annual yield of 3.0%.

XTX Topco Ltd purchased a new stake in PPL Corporation (NYSE:PPL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,884 shares of the utilities provider's stock, valued at approximately $357,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PPL by 17.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,088 shares of the utilities provider's stock worth $2,824,000 after purchasing an additional 11,782 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of PPL by 9.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,975,310 shares of the utilities provider's stock worth $107,438,000 after purchasing an additional 250,564 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of PPL by 45.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 30,603 shares of the utilities provider's stock worth $1,105,000 after purchasing an additional 9,503 shares in the last quarter. Heartland Bank & Trust Co purchased a new stake in shares of PPL in the 1st quarter worth about $992,000. Finally, Brown Advisory Inc. grew its holdings in PPL by 13.7% during the 1st quarter. Brown Advisory Inc. now owns 9,748 shares of the utilities provider's stock valued at $352,000 after buying an additional 1,175 shares during the last quarter. Institutional investors and hedge funds own 76.99% of the company's stock.

PPL Stock Up 1.6%

Shares of PPL traded up $0.58 during trading on Tuesday, reaching $36.86. The company's stock had a trading volume of 11,960,515 shares, compared to its average volume of 8,207,647. The company has a fifty day moving average of $34.76 and a two-hundred day moving average of $34.77. PPL Corporation has a twelve month low of $30.76 and a twelve month high of $36.99. The company has a market cap of $27.26 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 2.60 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 quarterly earnings data 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). The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.99 billion. PPL had a return on equity of 8.81% and a net margin of 11.22%. PPL's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share. On average, sell-side analysts predict that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were given a $0.2725 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $1.09 annualized dividend and a dividend yield of 3.0%. PPL's dividend payout ratio (DPR) is presently 81.34%.

Insider Activity 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 stock was sold at an average price of $35.86, for a total transaction of $77,636.90. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

PPL has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Wall Street Zen raised shares of PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Guggenheim increased their target price on 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 hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus 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.