Comerica Bank Buys 5,531 Shares of PPL Corporation $PPL

Comerica Bank grew its stake in PPL Corporation (NYSE:PPL) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211,686 shares of the utilities provider’s stock after acquiring an additional 5,531 shares during the quarter. Comerica Bank’s holdings in PPL were worth $7,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Harbour Investments Inc. increased its stake in shares of PPL by 16.0% in the 1st quarter. Harbour Investments Inc. now owns 2,207 shares of the utilities provider’s stock valued at $80,000 after acquiring an additional 304 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of PPL by 2.5% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 12,998 shares of the utilities provider’s stock valued at $469,000 after acquiring an additional 322 shares during the last quarter. Stock Yards Bank & Trust Co. increased its stake in shares of PPL by 5.0% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 6,953 shares of the utilities provider’s stock valued at $251,000 after acquiring an additional 329 shares during the last quarter. HighPoint Advisor Group LLC increased its stake in shares of PPL by 3.2% in the 1st quarter. HighPoint Advisor Group LLC now owns 11,392 shares of the utilities provider’s stock valued at $415,000 after acquiring an additional 354 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its stake in shares of PPL by 1.2% in the 1st quarter. HBK Sorce Advisory LLC now owns 30,367 shares of the utilities provider’s stock valued at $1,097,000 after acquiring an additional 372 shares during the last quarter. 76.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PPL news, COO David J. Bonenberger sold 2,165 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $35.86, for a total transaction of $77,636.90. Following the completion of the transaction, the chief operating officer owned 45,560 shares of the company’s stock, valued at $1,633,781.60. This represents a 4.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is currently owned by company insiders.

PPL Trading Up 0.3%

NYSE:PPL opened at $36.63 on Thursday. PPL Corporation has a twelve month low of $31.22 and a twelve month high of $37.38. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average price of $35.44 and a two-hundred day moving average price of $35.02. The company has a market cap of $27.08 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64.

PPL (NYSE:PPL) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.05). PPL had a return on equity of 8.81% and a net margin of 11.22%.The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the company earned $0.38 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. As a group, analysts expect that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.09 dividend on an annualized basis and a yield of 3.0%. PPL’s dividend payout ratio is 81.34%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays raised PPL from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 7th. Wall Street Zen raised PPL from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Morgan Stanley reissued an “overweight” rating on shares of PPL in a research note on Thursday, August 21st. Finally, Guggenheim increased their target price on PPL from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $36.70.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 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.