BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Holdings in PPL Co. (NYSE:PPL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of PPL Co. (NYSE:PPL) by 12.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,074 shares of the utilities provider’s stock after selling 18,213 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PPL were worth $4,071,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. increased its position in PPL by 91.3% during the second quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider’s stock worth $160,977,000 after buying an additional 2,778,820 shares during the period. Electron Capital Partners LLC increased its holdings in shares of PPL by 71.3% in the 2nd quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider’s stock valued at $119,061,000 after acquiring an additional 1,792,200 shares during the period. Clearbridge Investments LLC raised its position in PPL by 25.3% in the 2nd quarter. Clearbridge Investments LLC now owns 5,890,854 shares of the utilities provider’s stock valued at $162,882,000 after purchasing an additional 1,189,339 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in PPL by 5,390.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 563,015 shares of the utilities provider’s stock worth $18,625,000 after purchasing an additional 552,760 shares during the period. Finally, Bahl & Gaynor Inc. boosted its stake in PPL by 44.3% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,662,213 shares of the utilities provider’s stock worth $45,960,000 after purchasing an additional 510,263 shares during the period. 76.99% of the stock is owned by hedge funds and other institutional investors.

PPL Price Performance

PPL stock opened at $34.25 on Wednesday. The company has a market cap of $25.28 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 2.97 and a beta of 0.82. PPL Co. has a one year low of $25.35 and a one year high of $35.15. The business has a fifty day moving average of $33.07 and a two-hundred day moving average of $30.94. 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 (NYSE:PPL) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, analysts predict that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Tuesday, December 10th. PPL’s dividend payout ratio (DPR) is presently 91.97%.

Insider Activity

In related news, insider John R. Crockett III sold 9,161 shares of the company’s stock in a transaction that occurred 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 sale, the insider now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PPL shares. JPMorgan Chase & Co. assumed coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price for the company. Barclays upped their price objective on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Morgan Stanley lifted their target price on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. 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 note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

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.