Natixis Buys 133,894 Shares of PPL Co. (NYSE:PPL)

Posted by Defense World Staff on Jun 10th, 2023

Natixis grew its stake in PPL Co. (NYSE:PPL – Get Rating) by 269.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,627 shares of the utilities provider’s stock after purchasing an additional 133,894 shares during the period. Natixis’ holdings in PPL were worth $5,366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MinichMacGregor Wealth Management LLC bought a new stake in PPL in the fourth quarter worth $25,000. Worth Asset Management LLC purchased a new stake in shares of PPL in the first quarter valued at $27,000. CI Investments Inc. lifted its holdings in shares of PPL by 989.9% in the 3rd quarter. CI Investments Inc. now owns 970 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 881 shares during the last quarter. Glass Jacobson Investment Advisors llc purchased a new position in shares of PPL during the 4th quarter worth about $33,000. Finally, Armstrong Advisory Group Inc. bought a new position in PPL during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 70.02% of the company’s stock.

Insider Activity at PPL

In other PPL news, insider John R. Crockett III sold 5,500 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $28.00, for a total value of $154,000.00. Following the completion of the transaction, the insider now owns 9,161 shares in the company, valued at $256,508. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

PPL Price Performance

Shares of PPL stock opened at $26.82 on Friday. The firm has a market cap of $19.76 billion, a PE ratio of 25.54, a P/E/G ratio of 2.28 and a beta of 0.78. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $27.82 and a 200 day moving average price of $28.36. PPL Co. has a twelve month low of $23.47 and a twelve month high of $31.74.

PPL (NYSE:PPL – Get Rating) last posted its earnings results on Thursday, May 4th. The utilities provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.04. PPL had a return on equity of 7.81% and a net margin of 9.00%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $0.41 EPS. The business’s quarterly revenue was up 35.5% on a year-over-year basis. Sell-side analysts predict that PPL Co. will post 1.59 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 9th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $0.96 annualized dividend and a dividend yield of 3.58%. PPL’s dividend payout ratio is currently 91.43%.

Analyst Ratings Changes

PPL has been the subject of several analyst reports. StockNews.com assumed coverage on shares of PPL in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Morgan Stanley boosted their target price on PPL from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. TheStreet upgraded PPL from a “c+” rating to a “b” rating in a research note on Thursday, May 4th. Finally, Mizuho lowered their target price on shares of PPL from $32.00 to $28.00 in a research note on Monday, March 20th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.00.

PPL Company 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.