Teachers Retirement System of The State of Kentucky Sells 3,386 Shares of PPL Co. (NYSE:PPL)

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of PPL Co. (NYSE:PPL) by 5.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 55,156 shares of the utilities provider’s stock after selling 3,386 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in PPL were worth $1,825,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PPL. Fortitude Family Office LLC raised its position in PPL by 195.5% during the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of PPL during the second quarter worth about $29,000. Redwood Wealth Management Group LLC acquired a new position in shares of PPL in the second quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in PPL in the third quarter valued at approximately $34,000. Finally, Family Firm Inc. acquired a new stake in PPL during the 2nd quarter valued at approximately $38,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

Insider Buying and Selling at PPL

In related news, insider John R. Crockett III sold 9,161 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the sale, the insider now directly owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. This represents a 42.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

PPL Trading Up 0.1 %

NYSE PPL opened at $32.34 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. PPL Co. has a 52 week low of $25.35 and a 52 week high of $35.15. The business has a 50 day moving average price of $33.12 and a 200-day moving average price of $31.21. The company has a market cap of $23.86 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 2.78 and a beta of 0.82.

PPL (NYSE:PPL) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the business posted $0.43 EPS. PPL’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts expect that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be given a $0.2575 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 annualized dividend and a yield of 3.19%. PPL’s payout ratio is 91.97%.

Analysts Set New Price Targets

PPL has been the topic of a number of analyst reports. Bank of America upped their price objective on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Barclays raised shares of PPL from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 12th. Jefferies Financial Group started coverage on PPL in a research report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective for the company. Wells Fargo & Company upped their target price on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Citigroup lifted their target price on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.09.

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.