NewEdge Wealth LLC Acquires Shares of 37,139 PPL Corporation $PPL

NewEdge Wealth LLC acquired a new position in PPL Corporation (NYSE:PPL) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 37,139 shares of the utilities provider’s stock, valued at approximately $1,350,000.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC raised its holdings in PPL by 39.5% in the 1st quarter. Empowered Funds LLC now owns 19,166 shares of the utilities provider’s stock worth $692,000 after purchasing an additional 5,428 shares during the period. Woodline Partners LP grew its holdings in PPL by 40.7% in the first quarter. Woodline Partners LP now owns 62,375 shares of the utilities provider’s stock valued at $2,252,000 after purchasing an additional 18,057 shares during the period. Focus Partners Wealth increased its position in shares of PPL by 13.0% in the first quarter. Focus Partners Wealth now owns 26,861 shares of the utilities provider’s stock valued at $971,000 after buying an additional 3,084 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of PPL by 64.9% in the second quarter. EverSource Wealth Advisors LLC now owns 4,695 shares of the utilities provider’s stock valued at $159,000 after buying an additional 1,848 shares in the last quarter. Finally, Cary Street Partners Financial LLC lifted its position in shares of PPL by 6.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 5,299 shares of the utilities provider’s stock valued at $180,000 after buying an additional 343 shares in the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

PPL Trading Down 2.2%

Shares of PPL opened at $34.42 on Friday. PPL Corporation has a 52-week low of $33.17 and a 52-week high of $40.10. The stock has a market cap of $25.90 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.41 and a beta of 0.57. The firm’s fifty day moving average is $35.83 and its two-hundred day moving average is $36.75. The company has a quick ratio of 0.73, a current ratio of 0.91 and a debt-to-equity ratio of 1.32.

PPL (NYSE:PPL) last issued its earnings results on Friday, August 7th. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.19 billion. PPL had a net margin of 13.47% and a return on equity of 9.33%. PPL’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. PPL has set its FY 2026 guidance at 1.900-1.980 EPS. Research analysts forecast that PPL Corporation will post 1.94 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a $0.285 dividend. The ex-dividend date is Thursday, September 10th. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. PPL’s dividend payout ratio is presently 67.46%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Bank of America dropped their price target on shares of PPL from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Morgan Stanley decreased their price objective on shares of PPL from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday. Mizuho upgraded shares of PPL to a “hold” rating in a research report on Friday, July 3rd. JPMorgan Chase & Co. boosted their target price on shares of PPL from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings downgraded shares of PPL from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

Insider Transactions at PPL

In other news, CFO Ashley F. Johnson sold 34,993 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total value of $772,645.44. Following the completion of the sale, the chief financial officer directly owned 561,482 shares in the company, valued at $12,397,522.56. This represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kristen Robinson sold 37,107 shares of the stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total value of $929,530.35. Following the completion of the sale, the director directly owned 222,897 shares of the company’s stock, valued at approximately $5,583,569.85. This represents a 14.27% decrease in their position. The SEC filing for this sale provides additional information. 0.34% of the stock is currently owned by corporate insiders.

About PPL

PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.

PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.