BLB&B Advisors LLC Trims Holdings in PPL Co. (NYSE:PPL)

BLB&B Advisors LLC lowered its position in shares of PPL Co. (NYSE:PPL) by 18.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,144 shares of the utilities provider’s stock after selling 5,373 shares during the quarter. BLB&B Advisors LLC’s holdings in PPL were worth $751,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PPL. Great Valley Advisor Group Inc. raised its holdings in shares of PPL by 1.7% in the third quarter. Great Valley Advisor Group Inc. now owns 17,696 shares of the utilities provider’s stock worth $585,000 after buying an additional 301 shares during the period. Arkfeld Wealth Strategies L.L.C. grew its position in PPL by 0.4% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 78,296 shares of the utilities provider’s stock valued at $2,480,000 after acquiring an additional 313 shares during the last quarter. Choreo LLC grew its position in PPL by 0.9% in the 4th quarter. Choreo LLC now owns 37,622 shares of the utilities provider’s stock valued at $1,230,000 after acquiring an additional 322 shares during the last quarter. Bleakley Financial Group LLC increased its stake in PPL by 0.9% in the fourth quarter. Bleakley Financial Group LLC now owns 36,986 shares of the utilities provider’s stock worth $1,201,000 after purchasing an additional 342 shares during the period. Finally, Cobblestone Capital Advisors LLC NY lifted its position in shares of PPL by 2.4% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 14,848 shares of the utilities provider’s stock worth $491,000 after purchasing an additional 348 shares during the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Barclays reduced their target price on shares of PPL from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Jefferies Financial Group lowered their price target on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. JPMorgan Chase & Co. initiated coverage on PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 price objective on the stock. Finally, Bank of America upped their target price on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.

Insider Transactions at PPL

In other PPL news, SVP Tadd J. Henninger sold 6,639 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total value of $213,510.24. Following the completion of the sale, the senior vice president now owns 11,210 shares of the company’s stock, valued at approximately $360,513.60. This trade represents a 37.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David J. Bonenberger sold 981 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total value of $32,843.88. Following the sale, the chief operating officer now owns 45,414 shares in the company, valued at $1,520,460.72. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,794 shares of company stock valued at $661,338 in the last 90 days. Insiders own 0.22% of the company’s stock.

PPL Trading Up 0.0 %

Shares of NYSE PPL opened at $34.12 on Friday. PPL Co. has a 1-year low of $25.35 and a 1-year high of $35.15. The business has a fifty day moving average price of $32.85 and a 200 day moving average price of $32.36. The stock has a market capitalization of $25.18 billion, a P/E ratio of 30.46, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07.

PPL Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Tuesday, December 10th. PPL’s dividend payout ratio is currently 91.97%.

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.