29,285 Shares of PPL Corporation $PPL Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. acquired a new position in PPL Corporation (NYSE:PPL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 29,285 shares of the utilities provider’s stock, valued at approximately $963,000.

Other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in shares of PPL during the 2nd quarter worth approximately $187,326,000. Cullen Capital Management LLC acquired a new stake in shares of PPL in the second quarter valued at approximately $54,611,000. Hsbc Holdings PLC bought a new stake in shares of PPL in the second quarter valued at approximately $48,651,000. Man Group plc bought a new stake in shares of PPL in the second quarter valued at approximately $36,935,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of PPL in the second quarter valued at approximately $33,729,000. Institutional investors own 76.99% of the company’s stock.

PPL Price Performance

Shares of NYSE:PPL opened at $35.03 on Friday. The firm has a 50 day moving average of $34.11 and a 200-day moving average of $35.63. PPL Corporation has a 12 month low of $31.56 and a 12 month high of $40.10. The company has a current ratio of 0.91, a quick ratio of 0.73 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $26.37 billion, a PE ratio of 20.73, a PEG ratio of 3.42 and a beta of 0.56.

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

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were paid a dividend of $0.2850 per share. The ex-dividend date was Thursday, September 10th. This represents a $1.14 annualized dividend and a yield of 3.3%. PPL’s dividend payout ratio is presently 67.46%.

Insider Buying and Selling at PPL

In other PPL news, EVP Wendy Stark sold 5,406 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $35.11, for a total value of $189,804.66. Following the sale, the executive vice president owned 99,220 shares of the company’s stock, valued at approximately $3,483,614.20. This trade represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

PPL has been the topic of a number of analyst reports. BMO Capital Markets reduced their price target on PPL from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Scotiabank started coverage on PPL in a report on Tuesday, September 29th. They issued a “sector outperform” rating and a $36.00 price objective for the company. Jefferies Financial Group cut their target price on PPL from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, August 25th. Evercore set a $42.00 target price on PPL in a report on Monday, August 17th. Finally, HSBC began coverage on PPL in a report on Thursday. They set a “buy” rating and a $42.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

PPL Profile

PPL Corporation (NYSE:PPL) is an energy and utility holding company headquartered in Allentown, Pennsylvania. Through its regulated utility subsidiaries, the company delivers electricity and natural gas, operates electric distribution and transmission systems, and provides related energy services to residential, commercial, and industrial customers.

PPL’s principal businesses include PPL Electric Utilities in Pennsylvania, Louisville Gas and Electric Company and Kentucky Utilities in Kentucky, and Rhode Island Energy in Rhode Island.