Insider Selling: PPL Corporation (NYSE:PPL) COO Sells 2,165 Shares of Stock

Key Points

• PPL Corporation COO David J. Bonenberger sold 2,165 shares of stock for a total of $77,636.90, decreasing his ownership by 4.54% to 45,560 shares valued at approximately $1.63 million.
• The company's stock price fell 0.4% to $36.04, with a current market capitalization of $26.64 billion and a P/E ratio of 26.70.
• PPL recently announced a quarterly dividend of $0.2725, yielding 3.02%, with a payout ratio of 80.74%.

PPL Corporation (NYSE:PPL - Get Free Report) COO David J. Bonenberger sold 2,165 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were 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 approximately $1,633,781.60. The trade was a 4.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

PPL Stock Down 0.2%

PPL stock traded down $0.06 during mid-day trading on Friday, hitting $35.63. The company had a trading volume of 5,285,057 shares, compared to its average volume of 6,395,590. The stock has a market cap of $26.34 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.56 and a beta of 0.64. PPL Corporation has a 1 year low of $29.97 and a 1 year high of $36.99. The business has a fifty day moving average of $34.57 and a 200 day moving average of $34.61. The company has a quick ratio of 0.68, a current ratio of 0.59 and a debt-to-equity ratio of 1.07.

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 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 firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the company posted $0.38 earnings per share. PPL's revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts expect that PPL Corporation will post 1.83 earnings per share for the current fiscal year.

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, June 10th. PPL's dividend payout ratio (DPR) is 80.74%.

Analyst Upgrades and Downgrades

PPL has been the topic of a number of recent analyst reports. Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Guggenheim increased their price target on shares of PPL from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wall Street Zen raised shares of PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Morgan Stanley reduced their price target on shares of PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, PPL has an average rating of "Buy" and a consensus target price of $36.70.

Hedge Funds Weigh In On PPL

Several hedge funds have recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. increased its position 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 purchasing an additional 423 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in PPL by 94.3% in the 1st 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. Ancora Advisors LLC grew its holdings in PPL by 8,350.0% in the 1st quarter. Ancora Advisors LLC now owns 845 shares of the utilities provider's stock valued at $31,000 after buying an additional 835 shares during the period. TruNorth Capital Management LLC purchased a new stake in PPL in the 1st quarter valued at about $32,000. Finally, Truvestments Capital LLC grew its holdings in PPL by 5,352.9% in the 1st quarter. Truvestments Capital LLC now owns 927 shares of the utilities provider's stock valued at $33,000 after buying an additional 910 shares during the period. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

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.