Credit Suisse AG Buys 44,270 Shares of PPL Co. (NYSE:PPL)

Posted by Defense World Staff on Aug 25th, 2023

Credit Suisse AG boosted its stake in shares of PPL Co. (NYSE:PPL – Free Report) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 560,900 shares of the utilities provider’s stock after buying an additional 44,270 shares during the quarter. Credit Suisse AG owned approximately 0.08% of PPL worth $15,587,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PPL. Barclays PLC grew its position in PPL by 186.3% during the first quarter. Barclays PLC now owns 4,659,478 shares of the utilities provider’s stock valued at $129,487,000 after buying an additional 3,031,843 shares during the period. Federated Hermes Inc. grew its position in PPL by 31.1% during the first quarter. Federated Hermes Inc. now owns 10,050,908 shares of the utilities provider’s stock valued at $279,315,000 after buying an additional 2,386,004 shares during the period. Mizuho Markets Cayman LP bought a new position in PPL during the first quarter valued at about $64,890,000. State Street Corp grew its position in PPL by 4.8% during the first quarter. State Street Corp now owns 42,759,744 shares of the utilities provider’s stock valued at $1,229,596,000 after buying an additional 1,971,238 shares during the period. Finally, Jennison Associates LLC grew its position in PPL by 150.7% during the fourth quarter. Jennison Associates LLC now owns 3,128,728 shares of the utilities provider’s stock valued at $91,421,000 after buying an additional 1,880,578 shares during the period. Institutional investors own 73.46% of the company’s stock.

PPL Trading Down 0.7 %

Shares of PPL stock opened at $25.05 on Friday. PPL Co. has a 12-month low of $23.47 and a 12-month high of $31.74. The company has a current ratio of 1.09, a quick ratio of 0.90 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average price is $26.51 and its 200-day moving average price is $27.26. The company has a market cap of $18.46 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 2.15 and a beta of 0.78.

PPL (NYSE:PPL – Get Free Report) last issued its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). PPL had a net margin of 8.79% and a return on equity of 7.75%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts expect that PPL Co. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. TheStreet lowered shares of PPL from a “b-” rating to a “c” rating in a research report on Friday, August 4th. StockNews.com initiated coverage on shares of PPL in a report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays initiated coverage on shares of PPL in a report on Wednesday. They set an “equal weight” rating and a $26.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of PPL from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Guggenheim dropped their price objective on shares of PPL from $34.00 to $31.00 in a report on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, PPL presently has an average rating of “Moderate Buy” and a consensus price target of $30.17.

View Our Latest Report on PPL

PPL Company Profile

(Free Report)

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.5 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.

Credit Suisse AG Buys 44,270 Shares of PPL Co. (NYSE:PPL)

PPL Trading Down 0.7 %

Wall Street Analyst Weigh In

PPL Company Profile

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