Arizona State Retirement System Purchases 2,927 Shares of PPL Co. (NYSE:PPL)

Arizona State Retirement System grew its position in shares of PPL Co. (NYSE:PPL) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 214,288 shares of the utilities provider’s stock after acquiring an additional 2,927 shares during the quarter. Arizona State Retirement System’s holdings in PPL were worth $6,956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in 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 stake in PPL by 182.2% in the fourth quarter. Reaves W H & Co. Inc. now owns 3,951,116 shares of the utilities provider’s stock worth $128,254,000 after purchasing an additional 2,551,070 shares during the period. Wellington Management Group LLP increased its stake in PPL by 6.2% in the third quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock worth $1,160,760,000 after purchasing an additional 2,050,122 shares during the period. State Street Corp increased its stake in PPL by 5.0% in the third quarter. State Street Corp now owns 36,459,099 shares of the utilities provider’s stock worth $1,215,363,000 after purchasing an additional 1,720,941 shares during the period. Finally, National Bank of Canada FI increased its stake in PPL by 322.6% in the third quarter. National Bank of Canada FI now owns 1,223,128 shares of the utilities provider’s stock worth $40,461,000 after purchasing an additional 933,723 shares during the period. 76.99% of the stock is currently owned by institutional investors.

PPL Price Performance

Shares of PPL stock opened at $34.07 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.71. The company has a market cap of $25.15 billion, a P/E ratio of 28.15, a PEG ratio of 2.77 and a beta of 0.76. The stock’s 50-day moving average is $33.49 and its 200 day moving average is $32.99. PPL Co. has a 1-year low of $25.93 and a 1-year high of $35.91.

PPL (NYSE:PPL) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.09 billion. PPL had a return on equity of 8.88% and a net margin of 10.49%. Research analysts predict that PPL Co. will post 1.83 earnings per share for the current fiscal year.

PPL Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is 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%.

Insiders Place Their Bets

In other PPL news, COO David J. Bonenberger sold 981 shares of the firm’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 completion of the sale, the chief operating officer now owns 45,414 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine M. Martin sold 1,146 shares of PPL stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $34.78, for a total value of $39,857.88. Following the sale, the insider now directly owns 37,167 shares of the company’s stock, valued at $1,292,668.26. This trade represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,779 shares of company stock valued at $386,515. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on PPL shares. Jefferies Financial Group reduced their target price on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Barclays increased their target price on PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Citigroup increased their target price on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets assumed coverage on PPL in a research note on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.27.

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.