Prudential Financial Inc. Lowers Stock Holdings in PPL Co. (NYSE:PPL)

Prudential Financial Inc. cut its holdings in shares of PPL Co. (NYSE:PPL) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 402,474 shares of the utilities provider’s stock after selling 66,564 shares during the quarter. Prudential Financial Inc. owned about 0.05% of PPL worth $13,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PPL. Boston Partners boosted its position in shares of PPL by 8,266.9% in the fourth quarter. Boston Partners now owns 9,518,141 shares of the utilities provider’s stock worth $309,060,000 after acquiring an additional 9,404,382 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of PPL in the 4th quarter valued at $147,480,000. Franklin Resources Inc. grew its stake in shares of PPL by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 34,758,947 shares of the utilities provider’s stock valued at $1,115,824,000 after buying an additional 3,731,412 shares during the period. Reaves W H & Co. Inc. increased its holdings in shares of PPL by 182.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 3,951,116 shares of the utilities provider’s stock worth $128,254,000 after buying an additional 2,551,070 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of PPL by 6.2% in the 3rd quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock worth $1,160,760,000 after buying an additional 2,050,122 shares during the period. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Stock Up 1.2 %

Shares of NYSE:PPL opened at $35.03 on Friday. The firm has a market cap of $25.86 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76. The company has a fifty day simple moving average of $34.18 and a 200 day simple moving average of $33.26. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. PPL Co. has a 12-month low of $25.93 and a 12-month high of $35.91.

PPL (NYSE:PPL) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.09 billion. PPL had a return on equity of 8.88% and a net margin of 10.49%. On average, equities research analysts anticipate that PPL Co. will post 1.83 EPS for the current fiscal year.

PPL Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.2725 per share. This is a positive change from PPL’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Monday, March 10th. PPL’s dividend payout ratio is currently 90.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on PPL from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 25th. Citigroup raised shares of PPL from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Jefferies Financial Group cut their price target on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Morgan Stanley boosted their price objective on shares of PPL from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, BMO Capital Markets started coverage on shares of PPL in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 target price on the stock. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.27.

Insider Buying and Selling

In other PPL news, COO David J. Bonenberger sold 981 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total value of $32,843.88. Following the transaction, the chief operating officer now owns 45,414 shares of the company’s stock, valued at $1,520,460.72. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John R. Crockett III sold 1,589 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $33.12, for a total value of $52,627.68. Following the transaction, the insider now directly owns 10,845 shares of the company’s stock, valued at $359,186.40. This trade represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,140 shares of company stock worth $173,005 over the last ninety days. 0.22% of the stock is owned by insiders.

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.