Zimmer Partners LP Acquires New Shares in PPL Corporation $PPL

Key Points

• Zimmer Partners LP acquired a new position in PPL Corporation, purchasing 100,000 shares valued at approximately $3.61 million in the first quarter.
• PPL Corporation reported a quarterly EPS of $0.32, missing the consensus estimate by $0.05, but revenue increased by 7.7% year-over-year, reaching $2.03 billion.
• The company announced a quarterly dividend of $0.2725 per share, translating to an annualized dividend yield of 3.1%, with a payout ratio of 81.34%.

Zimmer Partners LP purchased a new stake in PPL Corporation (NYSE:PPL - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 100,000 shares of the utilities provider's stock, valued at approximately $3,611,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Empowered Funds LLC lifted its holdings in PPL by 39.5% in the 1st quarter. Empowered Funds LLC now owns 19,166 shares of the utilities provider's stock valued at $692,000 after acquiring an additional 5,428 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in PPL in the 1st quarter valued at about $328,000. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in PPL by 3.0% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,882 shares of the utilities provider's stock valued at $429,000 after acquiring an additional 350 shares during the last quarter. Voleon Capital Management LP acquired a new stake in PPL in the 1st quarter valued at about $346,000. Finally, Fred Alger Management LLC boosted its holdings in shares of PPL by 25.2% in the first quarter. Fred Alger Management LLC now owns 391,828 shares of the utilities provider's stock worth $14,229,000 after buying an additional 78,830 shares during the period. 76.99% of the stock is owned by institutional investors and hedge funds.

PPL Stock Up 0.5%

Shares of PPL stock traded up $0.19 during trading on Friday, hitting $36.17. 2,841,568 shares of the company were exchanged, compared to its average volume of 4,876,618. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.49 and a current ratio of 0.59. The firm has a market capitalization of $26.74 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 2.58 and a beta of 0.65. The business's 50-day simple moving average is $36.02 and its 200 day simple moving average is $35.17. PPL Corporation has a twelve month low of $31.22 and a twelve month high of $37.38.

PPL (NYSE:PPL - Get Free Report) last posted its quarterly 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). 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%.The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. As a group, analysts forecast that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Announces Dividend

The business also recently declared 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. This represents a $1.09 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, September 10th. PPL's dividend payout ratio (DPR) is currently 81.34%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen cut shares of PPL from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Morgan Stanley reiterated an "overweight" rating on shares of PPL in a report on Thursday, August 21st. 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 assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, PPL currently has an average rating of "Buy" and a consensus price target of $36.70.

Insider Activity at PPL

In related news, COO David J. Bonenberger sold 2,165 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 45,560 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.28% of the company's stock.

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.