Hexagon Capital Partners LLC Sells 534 Shares of PPL Co. (NYSE:PPL)

Posted by Defense World Staff on Mar 25th, 2023

Hexagon Capital Partners LLC lowered its stake in shares of PPL Co. (NYSE:PPL – Get Rating) by 36.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 948 shares of the utilities provider’s stock after selling 534 shares during the quarter. Hexagon Capital Partners LLC’s holdings in PPL were worth $28,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of PPL by 50.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 112,738 shares of the utilities provider’s stock valued at $2,858,000 after buying an additional 37,830 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of PPL by 1.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,988,411 shares of the utilities provider’s stock valued at $53,947,000 after buying an additional 37,208 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of PPL by 5.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,631,858 shares of the utilities provider’s stock valued at $41,368,000 after buying an additional 86,200 shares in the last quarter. Old North State Trust LLC purchased a new stake in shares of PPL during the 3rd quarter valued at $51,000. Finally, Kestra Advisory Services LLC raised its position in shares of PPL by 20.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 102,848 shares of the utilities provider’s stock valued at $2,607,000 after buying an additional 17,527 shares in the last quarter. Hedge funds and other institutional investors own 70.02% of the company’s stock.

Analyst Ratings Changes

PPL has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of PPL to $34.00 in a research report on Wednesday, December 14th. UBS Group lifted their target price on shares of PPL to $33.00 in a research report on Wednesday, December 14th. Morgan Stanley decreased their target price on shares of PPL from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday. TheStreet cut shares of PPL from a “b” rating to a “c+” rating in a research report on Tuesday, February 21st. Finally, StockNews.com initiated coverage on shares of PPL in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.63.

PPL Price Performance

PPL stock opened at $26.78 on Friday. The firm’s 50-day moving average price is $28.15 and its two-hundred day moving average price is $28.05. PPL Co. has a 12-month low of $23.47 and a 12-month high of $31.74. The stock has a market capitalization of $19.73 billion, a price-to-earnings ratio of 26.00 and a beta of 0.77. The company has a current ratio of 0.75, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93.

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

PPL Increases Dividend

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

Insider Activity

In other news, insider David J. Bonenberger sold 29,080 shares of PPL stock in a transaction dated Wednesday, January 4th. The shares were 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 approximately $1,038,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

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.