In a recent transaction reported to the Securities and Exchange Commission, Tadd J. Henninger, Senior Vice President of Finance and Treasurer at PPL Corp (NYSE:PPL), a $23.4 billion utility company known for its 54-year streak of consecutive dividend payments, executed a series of stock transactions. On December 17, Henninger sold 6,639 shares of PPL Corp at an approximate price of $32.16 per share, totaling $213,510. This sale was conducted under a pre-established 10b5-1 trading plan. According to InvestingPro data, PPL stock currently offers a 3.19% dividend yield and trades with notably low price volatility.
In addition to the sale, Henninger acquired 9,321.696 shares of common stock on December 16, priced at $32.32 each, amounting to a total of $301,277. These shares were acquired through the exercise of stock units under the company's Stock Incentive Plan.
Furthermore, 2,682 shares were withheld by the company to cover tax obligations, valued at $86,682. Following these transactions, Henninger holds 11,209.925 shares directly and an additional 97.733 shares indirectly through an Employee Stock Ownership Plan.
In other recent news, PPL Corp has been garnering attention from various analyst firms. Jefferies maintains a Buy rating on PPL Corp, despite a slight price target reduction to $38.00, citing anticipated improvements in earnings per share (EPS) growth. BMO Capital Markets initiated coverage on PPL Corp with an Outperform rating and a price target of $36.00, highlighting the company's straightforward business model and appealing investment characteristics. BofA Securities updated its outlook on PPL Corp, raising the stock's price target to $35.00 while retaining a Buy rating.
These recent developments showcase PPL Corp's strategic focus on significant infrastructure investments. The company is on track to complete infrastructure improvements worth approximately $3.1 billion and aims for annual O&M savings between $120 million and $130 million. PPL Corp's growth strategy is expected to meet increasing data center demand, despite supply chain constraints.
PPL Corp has outlined significant infrastructure investments totaling $14.3 billion from 2024 to 2027. The company also expects 6% to 8% annual growth in earnings per share and dividends through at least 2027. Seaport Global Securities highlighted PPL's potential to quickly accommodate over 5 gigawatts of in-front-of-the-meter load due to its excess electric transmission capacity. This is due to a recent Federal Energy Regulatory Commission decision that could benefit PPL, considering the company has reported over 8GW of data center load at advanced stages of development within its Pennsylvania zone.
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