State of Alaska Department of Revenue Sells 13,837 Shares of PPL Co. (NYSE:PPL)

State of Alaska Department of Revenue reduced its holdings in shares of PPL Co. (NYSE:PPL) by 14.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,161 shares of the utilities provider’s stock after selling 13,837 shares during the quarter. State of Alaska Department of Revenue’s holdings in PPL were worth $2,731,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Sanctuary Advisors LLC boosted its holdings in shares of PPL by 85.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 111,288 shares of the utilities provider’s stock worth $3,834,000 after buying an additional 51,366 shares during the period. Jennison Associates LLC boosted its stake in shares of PPL by 2.3% in the third quarter. Jennison Associates LLC now owns 4,260,426 shares of the utilities provider’s stock valued at $140,935,000 after buying an additional 96,491 shares during the period. Massachusetts Financial Services Co. MA grew its position in PPL by 0.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,407 shares of the utilities provider’s stock worth $215,430,000 after buying an additional 55,594 shares in the last quarter. DRW Securities LLC acquired a new stake in PPL during the third quarter worth approximately $1,218,000. Finally, Landscape Capital Management L.L.C. bought a new position in PPL during the 3rd quarter worth $916,000. 76.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PPL

In other news, COO David J. Bonenberger sold 981 shares of PPL stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total transaction of $32,843.88. Following the transaction, the chief operating officer now owns 45,414 shares in the company, valued at approximately $1,520,460.72. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tadd J. Henninger sold 6,639 shares of the stock in a transaction on Tuesday, December 17th. The shares were 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 $360,513.60. The trade was a 37.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,794 shares of company stock worth $661,338. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PPL. JPMorgan Chase & Co. assumed coverage on PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 target price on the stock. Jefferies Financial Group reduced their price objective on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Barclays dropped their target price on shares of PPL from $34.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. BMO Capital Markets initiated coverage on shares of PPL in a research report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price target on the stock. Finally, Bank of America boosted their price objective on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.00.

PPL Stock Up 0.0 %

Shares of NYSE:PPL opened at $34.12 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. PPL Co. has a 52-week low of $25.35 and a 52-week high of $35.15. The company has a market capitalization of $25.18 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. The company has a fifty day moving average of $32.84 and a 200-day moving average of $32.42.

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 paid a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Tuesday, December 10th. PPL’s payout ratio is 91.97%.

PPL Company 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.