PPL Corporation (NYSE:PPL - Get Free Report) Director Kristen Robinson sold 37,107 shares of the business's stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total transaction of $929,530.35. Following the sale, the director directly owned 222,897 shares in the company, valued at approximately $5,583,569.85. This trade represents a 14.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
PPL Stock Performance
Shares of PPL stock opened at $36.33 on Friday. The stock has a market cap of $27.33 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.44 and a beta of 0.57. The business has a fifty day simple moving average of $35.87 and a 200-day simple moving average of $36.79. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. PPL Corporation has a 12 month low of $33.17 and a 12 month high of $40.10.
PPL (NYSE:PPL - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.51 billion. PPL had a return on equity of 9.41% and a net margin of 13.09%.PPL's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, sell-side analysts anticipate that PPL Corporation will post 1.95 EPS for the current fiscal year.
PPL Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, June 10th. PPL's payout ratio is 69.51%.
PPL News Roundup
Here are the key news stories impacting PPL this week:
- Positive Sentiment: JPMorgan Chase & Co. raised its price target on PPL from $42 to $45 and reiterated an overweight rating, signaling continued confidence in the utility’s upside potential. Article source
- Positive Sentiment: Analysts remain broadly constructive, with PPL still carrying a Moderate Buy consensus and a target price above recent trading levels.
- Neutral Sentiment: The company’s long-term growth story is being supported by its $23 billion grid investment plan, which targets reliability improvements, fewer outages, and about 10.3% annual rate base growth through 2029. Article source
- Neutral Sentiment: PPL also continues to back shareholders with a 3.2% dividend yield after its recent quarterly payout.
- Negative Sentiment: Recent insider selling may be creating some caution, including sales by CEO William Spencer Marshall and directors John Raymond and Kristen Robinson, which can weigh on sentiment even if the transactions were likely routine. Article source
Hedge Funds Weigh In On PPL
A number of hedge funds have recently added to or reduced their stakes in PPL. Thurston Springer Miller Herd & Titak Inc. raised its position in PPL by 293.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,071 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 799 shares in the last quarter. Allied Private Wealth LLC acquired a new position in shares of PPL during the 2nd quarter worth $42,000. Lodestone Wealth Management LLC acquired a new position in shares of PPL during the 4th quarter worth $48,000. Aventura Private Wealth LLC bought a new position in shares of PPL during the 4th quarter valued at $49,000. Finally, Root Financial Partners LLC raised its holdings in shares of PPL by 72.5% during the 1st quarter. Root Financial Partners LLC now owns 2,587 shares of the utilities provider's stock valued at $99,000 after purchasing an additional 1,087 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company's stock.
Analysts Set New Price Targets
Several analysts recently commented on PPL shares. BTIG Research restated a "buy" rating on shares of PPL in a report on Thursday, June 4th. Wells Fargo & Company reiterated an "overweight" rating on shares of PPL in a research note on Tuesday, April 21st. Weiss Ratings lowered shares of PPL from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. Seaport Research Partners set a $42.00 price target on shares of PPL in a report on Monday, April 20th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of PPL in a research note on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, PPL currently has a consensus rating of "Moderate Buy" and an average target price of $41.92.
View Our Latest Analysis on PPL
PPL Company Profile
(
Get Free Report)
PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company's core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.
PPL's activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.
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