Brookfield Corp ON Buys Shares of 4,275,229 PPL Co. (NYSE:PPL)

Posted by on Sep 12th, 2023

Brookfield Corp ON bought a new stake in shares of PPL Co. (NYSE:PPL – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,275,229 shares of the utilities provider’s stock, valued at approximately $118,809,000. Brookfield Corp ON owned approximately 0.58% of PPL as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aspire Private Capital LLC purchased a new position in shares of PPL during the first quarter worth about $22,069,567,000. Coppell Advisory Solutions Corp. purchased a new position in shares of PPL during the fourth quarter worth about $25,000. Allworth Financial LP grew its holdings in shares of PPL by 165.7% during the first quarter. Allworth Financial LP now owns 898 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 560 shares in the last quarter. Worth Asset Management LLC purchased a new position in shares of PPL during the first quarter worth about $27,000. Finally, Compass Wealth Management LLC purchased a new position in shares of PPL during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 73.09% of the company’s stock.

PPL Stock Performance

Shares of PPL stock opened at $25.03 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.90 and a current ratio of 1.09. PPL Co. has a fifty-two week low of $23.47 and a fifty-two week high of $31.74. The stock has a 50 day moving average price of $26.09 and a two-hundred day moving average price of $26.94. The company has a market capitalization of $18.45 billion, a P/E ratio of 24.06, a PEG ratio of 2.09 and a beta of 0.79.

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

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.84%. PPL’s dividend payout ratio is presently 92.31%.

Analyst Upgrades and Downgrades

PPL has been the subject of several recent analyst reports. Royal Bank of Canada cut their price objective on PPL from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, September 6th. Barclays began coverage on PPL in a research report on Wednesday, August 23rd. They issued an “equal weight” rating and a $26.00 target price for the company. StockNews.com began coverage on PPL in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley dropped their target price on PPL from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, August 23rd. Finally, TheStreet downgraded PPL from a “b-” rating to a “c” rating in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and a consensus target price of $30.14.

Read Our Latest Research Report on PPL

About PPL

(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.

See Also

Institutional Ownership by Quarter for PPL (NYSE:PPL)

Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.