Wedge Capital Management Decreases Holdings in PPL Co. as Utilities Provider Faces Earnings Disappointment

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Wedge Capital Management Decreases Holdings in PPL Co. as Utilities Provider Faces Earnings Disappointment

Best Stocks2023-09-25

On September 24, 2023, investment firm Wedge Capital Management L L P NC revealed in its latest disclosure with the Securities & Exchange Commission that it has decreased its holdings in PPL Co. (NYSE...

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(NYSE...</p>\n\n<a href=\"https://beststocks.com/wedge-capital-management-decreases-holdings/\">Source Link</a>\n\n</div>\n","source":"beststocks_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wedge Capital Management Decreases Holdings in PPL Co. as Utilities Provider Faces Earnings Disappointment</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWedge Capital Management Decreases Holdings in PPL Co. as Utilities Provider Faces Earnings Disappointment\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-09-25 17:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beststocks.com/wedge-capital-management-decreases-holdings/><strong>Best Stocks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On September 24, 2023, investment firm Wedge Capital Management L L P NC revealed in its latest disclosure with the Securities & Exchange Commission that it has decreased its holdings in PPL Co. (NYSE...</p>\n\n<a href=\"https://beststocks.com/wedge-capital-management-decreases-holdings/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PPL","symbol_name":"宾州电力","start_time":0,"source_url":"https://beststocks.com/wedge-capital-management-decreases-holdings/","article_id":"2370250503","we_media_id":null,"thumbnails":["https://beststocks.com/wp-content/uploads/2023/03/Liquidity-finance-news-1.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2370250503","pubTimestamp":1695633087,"columns":[],"sourceInfo":{"source_id":"beststocks_highlight","name":"Best Stocks"},"weMediaInfo":null,"summary":"On September 24, 2023, investment firm Wedge Capital Management L L P NC revealed in its latest disclosure with the Securities & Exchange Commission that it has decreased its holdings in PPL Co.  by 8.4% during the second quarter of the year. The fund now owns a total of 544,769 shares of the utilities provider’s stock, having sold 49,832 shares over the course of the quarter. At the end of this reporting period, Wedge Capital Management L L P NC’s stake in PPL was estimated to be worth $14,415,000, which represents approximately 0.07% of the company’s total worth.Reviewing data from the previous year’s corresponding quarter reveals that PPL recorded earnings per share  amounting to $0.30 during that period—an approximate decrease in EPS by . Nevertheless, the company experienced an overall positive growth rate in terms of revenue as it boasted a 7.5% increase compared to the same time frame in the prior year.","collect":0,"end_time":0,"defaultTopTitle":"beststocks.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PPL":"宾州电力"},"translate_title":"Wedge Capital Management减持PPL Co.，公用事业供应商面临收益失望","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PPL":1},"content_text":"On September 24, 2023, investment firm Wedge Capital Management L L P NC revealed in its latest disclosure with the Securities & Exchange Commission that it has decreased its holdings in PPL Co. (NYSE:PPL) by 8.4% during the second quarter of the year. The fund now owns a total of 544,769 shares of the utilities provider’s stock, having sold 49,832 shares over the course of the quarter. At the end of this reporting period, Wedge Capital Management L L P NC’s stake in PPL was estimated to be worth $14,415,000, which represents approximately 0.07% of the company’s total worth.\nPPL recently reported its earnings results on August 4th. Unfortunately for analysts and investors, the utilities provider fell short of market expectations with an earnings per share (EPS) figure of $0.29 for the quarter, missing consensus estimates by ($0.03). In comparison, analysts were initially anticipating an EPS of $0.32. Despite this disappointment, PPL maintained a return on equity (ROE) of 7.75% and a net margin of 8.79%. The company managed to generate revenue amounting to $1.82 billion during this quarter as well—a stark contrast to analyst estimates that predicted revenue at only $1.27 billion.\nReviewing data from the previous year’s corresponding quarter reveals that PPL recorded earnings per share (EPS) amounting to $0.30 during that period—an approximate decrease in EPS by ($0.01). Nevertheless, the company experienced an overall positive growth rate in terms of revenue as it boasted a 7.5% increase compared to the same time frame in the prior year.\nEquities research analysts are now projecting that PPL Co.’s current fiscal year will culminate with earnings per share (EPS) totaling around 1.58. Taking into account the recent earnings results and the forthcoming expectations, investors and analysts alike will closely monitor the utilities provider’s performance in order to gauge its future profitability.\nFor more information on PPL Co., interested parties are encouraged to refer to the latest stock report available. This comprehensive document provides detailed insights into PPL’s financial standing, helping investors make informed decisions regarding their investment strategies.\nAs of the referenced date, September 24, 2023, Wedge Capital Management L L P NC had decreased its holdings in PPL Co., while the utilities provider struggle d with its recent earnings results that fell short of market expectations. However, it remains to be seen how these developments will impact PPL moving forward as analysts anticipate its future performance.\n\n\n\n\n\n\n\n\n\n\n\n\nTPG Inc.\n        TPG\nStrong Buy\n\nUpdated on: 25/09/2023\n\n\n\nFinancial Health\n\n\nVery Healthy                \n\n\n\n                    Debt to equity ratio: Strong Buy                \n\n\n                    Price to earnings ratio: Strong Buy                \n\n\n                    Price to book ratio: Strong Buy                \n\n\n                    DCF: Strong Buy                \n\n\n                    ROE: Neutral                \n\nShow more\n\n\nPrice Target\n\n\n                    Current $30.15\n\n\n\n                    Concensus $46.17\n\n\n\n\n                    Low $30.00\n\n\n\n                    Median $40.00\n\n\n\n                    High $87.00\n\n\n\nShow more\n\n\nSocial Sentiments\nWe did not find social sentiment data for this stock\n\n\nAnalyst Ratings\n\n\nAnalyst / firm\nRating\n\n\n\n                        Keith Bachman BMO Capital\n\nBuy\n\n\n\nWells Fargo\n\nBuy\n\n\n\nBMO Capital\n\nBuy\n\n\n\nDeutsche Bank\n\nBuy\n\n\n\nUBS\n\nBuy\n\n\nShow more\n\n\nInstitutional Investors Drive Significant Changes to Holdings of PPL, a Utilities Provider Company\n\nInstitutional investors have made significant modifications to their holdings of PPL, a utilities provider company. Brookfield Corp ON acquired a new stake in PPL shares during the first quarter, valued at $118,809,000. Similarly, Zimmer Partners LP purchased a new stake in the company worth $97,265,000 during the same period. Barclays PLC increased its ownership of PPL shares by 186.3% during the first quarter and now holds 4,659,478 shares with a value of $129,487,000. ExodusPoint Capital Management LP also saw impressive growth in its stake in PPL shares by 119.6% during the first quarter.\nAnother notable institutional investor that saw an increase in its holdings is Federated Hermes Inc., which grew its stake in PPL by 31.1% during the first quarter. The firm now owns 10,050,908 shares valued at $279,315,000.\nIt is interesting to note that institutional investors currently hold approximately 73.09% of the company’s stock.\nShares of PPL traded at $25.13 on Friday’s opening. The stock has experienced fluctuating trends recently with a 50-day moving average price of $25.90 and a 200-day moving average price of $26.83.\nPPL Co.’s market capitalization is estimated to be around $18.52 billion with a relatively high beta value of 0.79 compared to industry standards.\nAdditionally, PPL recently announced a quarterly dividend set to be paid on October 2nd to shareholders of record as of September 8th. The dividend amount will be $0.24 per share on an annualized basis, yielding approximately 3.82%.\nResearch analyst reports have provided further insight into PPL’s performance and prospects for potential investors. Royal Bank of Canada lowered their price target for PPL from $33 to $30 and maintained an “outperform” rating. Barclays initiated coverage on the stock with an “equal weight” rating and a $26 price target. Morgan Stanley also reduced their price target from $31 to $29 but maintained an “overweight” rating.\nWith regards to ratings, three equities research analysts have given PPL a hold rating, while four have rated it as a buy. According to Bloomberg.com, PPL currently holds a consensus rating of “Moderate Buy” and an average price target of $30.14.\nAs the company continues to navigate market conditions, these updates provide valuable insights into PPL’s financial standing and performance.\nTags: TPG","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}