Allstate Corp Purchases New Shares in PPL Corporation $PPL

Allstate Corp acquired a new position in shares of PPL Corporation (NYSE:PPL) during the 3rd quarter, Holdings Channel reports. The firm acquired 27,163 shares of the utilities provider’s stock, valued at approximately $1,009,000.

A number of other institutional investors also recently modified their holdings of PPL. J.Safra Asset Management Corp acquired a new position in shares of PPL in the third quarter valued at about $28,000. TD Private Client Wealth LLC boosted its holdings in PPL by 5.8% in the 3rd quarter. TD Private Client Wealth LLC now owns 78,354 shares of the utilities provider’s stock valued at $2,912,000 after purchasing an additional 4,299 shares during the period. Quent Capital LLC acquired a new position in shares of PPL during the 3rd quarter worth approximately $54,000. First Horizon Corp bought a new position in shares of PPL during the third quarter worth approximately $63,000. Finally, Miller Howard Investments Inc. NY raised its position in shares of PPL by 2.0% in the third quarter. Miller Howard Investments Inc. NY now owns 325,830 shares of the utilities provider’s stock valued at $12,108,000 after buying an additional 6,453 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

NYSE PPL opened at $37.17 on Thursday. The company has a market capitalization of $27.49 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.57 and a beta of 0.70. The company has a quick ratio of 0.66, a current ratio of 0.77 and a debt-to-equity ratio of 1.18. PPL Corporation has a twelve month low of $32.24 and a twelve month high of $38.26. The stock has a fifty day simple moving average of $35.27 and a 200 day simple moving average of $35.99.

PPL (NYSE:PPL) last released its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. PPL had a return on equity of 9.08% and a net margin of 12.16%.PPL’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. PPL has set its FY 2025 guidance at 1.780-1.840 EPS. Sell-side analysts expect that PPL Corporation will post 1.83 EPS for the current year.

PPL Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Wednesday, December 10th were given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, December 10th. PPL’s dividend payout ratio is currently 73.65%.

Analysts Set New Price Targets

PPL has been the topic of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of PPL in a research report on Wednesday, October 8th. Morgan Stanley reissued an “overweight” rating on shares of PPL in a report on Wednesday. Evercore ISI assumed coverage on PPL in a research note on Monday, October 6th. They issued an “outperform” rating and a $43.00 price target for the company. BTIG Research raised shares of PPL to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of PPL from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, PPL presently has a consensus rating of “Buy” and an average price target of $40.80.

PPL Company Profile

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.