PPL Co. (NYSE:PPL) Shares Sold by Brookstone Capital Management

Posted by Defense World Staff on Mar 22nd, 2023

Brookstone Capital Management reduced its stake in shares of PPL Co. (NYSE:PPL – Get Rating) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,639 shares of the utilities provider’s stock after selling 2,199 shares during the period. Brookstone Capital Management’s holdings in PPL were worth $738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MinichMacGregor Wealth Management LLC acquired a new position in shares of PPL during the 4th quarter worth approximately $25,000. Weiss Asset Management LP acquired a new position in shares of PPL during the 3rd quarter worth approximately $1,029,000. Toroso Investments LLC boosted its holdings in shares of PPL by 5.3% during the 3rd quarter. Toroso Investments LLC now owns 17,962 shares of the utilities provider’s stock worth $455,000 after purchasing an additional 904 shares during the last quarter. Invst LLC boosted its holdings in shares of PPL by 17.2% during the 3rd quarter. Invst LLC now owns 31,245 shares of the utilities provider’s stock worth $777,000 after purchasing an additional 4,586 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of PPL by 70.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,977 shares of the utilities provider’s stock worth $735,000 after purchasing an additional 11,946 shares during the last quarter. 70.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PPL

In other news, insider David J. Bonenberger sold 29,080 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $30.00, for a total transaction of $872,400.00. Following the sale, the insider now owns 34,606 shares of the company’s stock, valued at $1,038,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

PPL Stock Down 1.8 %

Shares of NYSE PPL opened at $26.78 on Wednesday. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of 26.00 and a beta of 0.77. The company has a quick ratio of 0.63, a current ratio of 0.75 and a debt-to-equity ratio of 0.93. PPL Co. has a 52-week low of $23.47 and a 52-week high of $31.74. The business’s 50 day moving average is $28.42 and its two-hundred day moving average is $28.10.

PPL (NYSE:PPL – Get Rating) last announced its earnings results on Friday, February 17th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. PPL had a return on equity of 7.50% and a net margin of 9.57%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the company earned $0.22 earnings per share. The firm’s quarterly revenue was up 54.2% compared to the same quarter last year. Research analysts predict that PPL Co. will post 1.59 EPS for the current year.

PPL Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.58%. This is a positive change from PPL’s previous quarterly dividend of $0.23. PPL’s dividend payout ratio is currently 93.20%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Mizuho lowered their target price on PPL from $32.00 to $28.00 in a report on Monday. UBS Group lifted their price target on shares of PPL to $33.00 in a research report on Wednesday, December 14th. Wells Fargo & Company lifted their price target on shares of PPL to $34.00 in a research report on Wednesday, December 14th. Barclays started coverage on shares of PPL in a research report on Wednesday, January 18th. They set an “equal weight” rating on the stock. Finally, StockNews.com started coverage on shares of PPL in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.63.

PPL Profile

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PPL Corp. engages in the generation, transmission and distribution of electricity. It operates through the two reportable segments: Kentucky Regulated & Pennsylvania Regulated. The Kentucky Regulated segment consists of LKE’s regulated electricity generation, transmission and distribution operations of Louisville Gas and Electric Company and Kentucky Utilities Company as well as regulated distribution and sale of natural gas of Louisville Gas and Electric Company.