Belpointe Asset Management LLC Invests $540,000 in PPL Corporation $PPL

Belpointe Asset Management LLC acquired a new position in PPL Corporation (NYSE:PPL) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,961 shares of the utilities provider’s stock, valued at approximately $540,000.

Several other hedge funds also recently bought and sold shares of PPL. Boston Partners boosted its holdings in PPL by 37.2% in the 1st quarter. Boston Partners now owns 13,062,423 shares of the utilities provider’s stock worth $471,756,000 after buying an additional 3,544,282 shares during the period. American Century Companies Inc. boosted its holdings in PPL by 1,418.1% in the 1st quarter. American Century Companies Inc. now owns 2,909,371 shares of the utilities provider’s stock worth $105,057,000 after buying an additional 2,717,726 shares during the period. Nuveen LLC bought a new position in PPL in the 1st quarter worth $60,020,000. JPMorgan Chase & Co. boosted its holdings in PPL by 42.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,779,155 shares of the utilities provider’s stock worth $172,575,000 after buying an additional 1,434,778 shares during the period. Finally, Ceredex Value Advisors LLC bought a new position in PPL in the 1st quarter worth $29,617,000. Institutional investors own 76.99% of the company’s stock.

PPL Stock Up 0.5%

Shares of NYSE PPL opened at $36.17 on Friday. The firm’s 50-day moving average price is $36.02 and its 200-day moving average price is $35.17. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 2.58 and a beta of 0.65. PPL Corporation has a 12-month low of $31.22 and a 12-month high of $37.38.

PPL (NYSE:PPL) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.05). The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.99 billion. PPL had a net margin of 11.22% and a return on equity of 8.81%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. On average, equities research analysts anticipate that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on PPL. Morgan Stanley reaffirmed an “overweight” rating on shares of PPL in a report on Thursday, August 21st. Barclays raised shares of PPL from a “hold” rating to a “strong-buy” rating in a report on Monday, July 7th. Finally, Wall Street Zen downgraded shares of PPL from a “hold” rating to a “sell” rating in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $36.70.

Insider Activity

In other news, COO David J. Bonenberger sold 2,165 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $35.86, for a total transaction of $77,636.90. Following the sale, the chief operating officer directly owned 45,560 shares in the company, valued at approximately $1,633,781.60. This represents a 4.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.28% of the company’s stock.

PPL 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.