Bank of Nova Scotia reduced its holdings in shares of PPL Corporation (NYSE:PPL) by 21.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,070 shares of the utilities provider's stock after selling 21,415 shares during the quarter. Bank of Nova Scotia's holdings in PPL were worth $2,783,000 at the end of the most recent quarter. Several other institutional investors and hedge funds also recently bought and sold shares of PPL. Merewether Investment Management LP bought a new stake in PPL during the fourth quarter valued at $70,063,000. Bank of America Corp DE raised its holdings in shares of PPL by 12.1% in the 4th quarter. Bank of America Corp DE now owns 12,672,428 shares of the utilities provider's stock valued at $411,347,000 after acquiring an additional 1,371,000 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of PPL during the 4th quarter valued at about $28,261,000. GAMMA Investing LLC grew its holdings in shares of PPL by 4,095.6% during the first quarter. GAMMA Investing LLC now owns 803,375 shares of the utilities provider's stock worth $29,010,000 after purchasing an additional 784,227 shares in the last quarter. Finally, BROOKFIELD Corp ON bought a new position in shares of PPL in the fourth quarter worth approximately $23,453,000. 76.99% of the stock is owned by institutional investors.\n\nPPL's stock has received mixed ratings from analysts, with a consensus rating of 'Buy' and a target price of $36.70. PPL recently announced a quarterly dividend of $0.2725, representing an annualized yield of 3.0%. The company had a payout ratio of 81.34%.\n\nPPL Corporation last released its quarterly earnings data 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). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.99 billion. PPL had a net margin of 11.22% and a return on equity of 8.81%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. As a group, equities analysts forecast that PPL Corporation will post 1.83 earnings per share for the current fiscal year.\n\nThe company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th were issued a $0.2725 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.09 annualized dividend and a dividend yield of 3.0%.\n\nWall Street Analysts Forecast Growth: A number of research firms have commented on PPL. Morgan Stanley reduced their price objective on PPL from $38.00 to $37.00 and set an 'overweight' rating on the stock in a research note on Wednesday, June 18th. Guggenheim raised their target price on shares of PPL from $38.00 to $40.00 and gave the stock a 'buy' rating in a report on Thursday, May 1st. Barclays raised shares of PPL from a 'hold' rating to a 'strong-buy' rating in a research note on Monday, July 7th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, PPL has an average rating of 'Buy' and a consensus price target of $36.70.\n\nInsider Activity at PPL: COO sold 2,165 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $35.86, for a total value of $77,636.90. Following the transaction, the chief operating officer owned 45,560 shares of the company's stock, valued at approximately $1,633,781.60. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through.\n\nPPL 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.\n\nThe stock has a market cap of $26.90 billion, a PE ratio of 27.15, a P/E/G ratio of 2.61 and a beta of 0.64. PPL ( - ) last released its quarterly earnings data 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). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.99 billion. PPL had a net margin of 11.22% and a return on equity of 8.81%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. As a group, equities analysts forecast that PPL Corporation will post 1.83 earnings per share for the current fiscal year.\n\nPPL's payout ratio is presently 81.34%. The stock has a 12-month low of $29.97 and a 12-month high of $36.99. Shares of PPL traded up $0.01 during trading on Friday, reaching $36.38. The company had a trading volume of 3,591,932 shares, compared to its average volume of 7,110,328. The business's 50-day moving average is $34.73 and its 200 day moving average is $34.74. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 1.07.

Bank of Nova Scotia Cuts Stake in PPL Corporation (NYSE:PPL)

Bank of Nova Scotia reduced its holdings in PPL Corporation by 21.7% during the first quarter, selling 21,415 shares and ending with 77,070 shares worth $2,783,000. Other institutional investors such as Merewether Investment Management LP, Bank of America Corp DE, Balyasny Asset Management L.P., GAMMA Investing LLC, and BROOKFIELD Corp ON also made significant transactions in PPL during the fourth quarter and first quarter. PPL reported Q2 earnings of $0.32 EPS, missing estimates of $0.37, with revenue of $2.03 billion and a net margin of 11.22%. The company announced a quarterly dividend of $0.2725, resulting in an annualized yield of 3.0% and a payout ratio of 81.34%. Analysts have issued mixed ratings, with a consensus 'Buy' and target price of $36.70, while Morgan Stanley, Guggenheim, and Barclays adjusted their ratings and price targets. The company serves approximately 3.6 million customers in the U.S. through regulated operations in Pennsylvania, Kentucky, Virginia, and Rhode Island. The stock has a market cap of $26.90 billion, a PE ratio of 27.15, and a 12-month range of $29.97 to $36.99.