Geode Capital Management LLC Grows Holdings in PPL Co. (NYSE:PPL)

Geode Capital Management LLC increased its stake in shares of PPL Co. (NYSE:PPL) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,677,941 shares of the utilities provider’s stock after purchasing an additional 500,058 shares during the period. Geode Capital Management LLC owned approximately 2.40% of PPL worth $572,300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its position in shares of PPL by 2.4% during the fourth quarter. Global Retirement Partners LLC now owns 12,530 shares of the utilities provider’s stock worth $407,000 after buying an additional 299 shares during the period. Opal Wealth Advisors LLC boosted its holdings in PPL by 4.7% during the 4th quarter. Opal Wealth Advisors LLC now owns 6,797 shares of the utilities provider’s stock valued at $221,000 after acquiring an additional 305 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 in the last quarter. Choreo LLC increased its stake in PPL by 0.9% during the fourth quarter. Choreo LLC now owns 37,622 shares of the utilities provider’s stock worth $1,230,000 after purchasing an additional 322 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its position in shares of PPL by 3.0% during the fourth quarter. Frank Rimerman Advisors LLC now owns 11,272 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 329 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Up 0.2 %

PPL stock opened at $36.21 on Friday. The stock has a market cap of $26.73 billion, a P/E ratio of 29.92, a PEG ratio of 2.77 and a beta of 0.65. 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 twelve month low of $25.93 and a twelve month high of $36.64. The company’s 50 day moving average is $34.48 and its two-hundred day moving average is $33.39.

PPL (NYSE:PPL) last announced 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). PPL had a return on equity of 8.88% and a net margin of 10.49%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.09 billion. Research analysts expect that PPL Co. will post 1.83 earnings per share for the current fiscal year.

PPL Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from PPL’s previous quarterly dividend of $0.26. PPL’s dividend payout ratio (DPR) is currently 90.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PPL shares. Morgan Stanley upped their target price 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. UBS Group increased their price objective on PPL from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Jefferies Financial Group lowered their target price on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. BMO Capital Markets started coverage on PPL in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target on the stock. Finally, Barclays boosted their price objective on PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.27.

Insiders Place Their Bets

In other news, insider Christine M. Martin sold 1,146 shares of PPL stock in a transaction on Friday, February 28th. The shares were sold at an average price of $34.78, for a total value of $39,857.88. Following the transaction, the insider now directly owns 37,167 shares of the company’s stock, valued at $1,292,668.26. The trade was a 2.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John R. Crockett III sold 1,589 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $33.12, for a total transaction of $52,627.68. Following the sale, the insider now owns 10,845 shares of the company’s stock, valued at approximately $359,186.40. This represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,140 shares of company stock valued at $173,005 over the last quarter. Company insiders own 0.22% of the company’s stock.

About PPL

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.