Franklin Resources Inc. Acquires 3,731,412 Shares of PPL Co. (NYSE:PPL)

Franklin Resources Inc. boosted its holdings in shares of PPL Co. (NYSE:PPL) by 12.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,758,947 shares of the utilities provider’s stock after acquiring an additional 3,731,412 shares during the period. Franklin Resources Inc.’s holdings in PPL were worth $1,115,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in PPL by 5.0% during the 3rd quarter. State Street Corp now owns 36,459,099 shares of the utilities provider’s stock worth $1,215,363,000 after acquiring an additional 1,720,941 shares in the last quarter. Wellington Management Group LLP grew its holdings in PPL by 6.2% during the 3rd quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock worth $1,160,760,000 after acquiring an additional 2,050,122 shares in the last quarter. Geode Capital Management LLC grew its holdings in PPL by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 17,177,883 shares of the utilities provider’s stock worth $566,275,000 after acquiring an additional 201,417 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PPL by 0.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,512,407 shares of the utilities provider’s stock valued at $215,430,000 after buying an additional 55,594 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of 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 buying an additional 1,189,339 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors.

PPL Stock Performance

PPL opened at $32.29 on Friday. PPL Co. has a 12-month low of $25.35 and a 12-month high of $35.15. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $23.83 billion, a PE ratio of 28.83, a P/E/G ratio of 2.82 and a beta of 0.82. The firm has a 50 day moving average of $33.12 and a two-hundred day moving average of $31.11.

PPL (NYSE:PPL) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (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 company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the firm posted $0.43 EPS. PPL’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts anticipate that PPL Co. will post 1.72 EPS for the current 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 given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, December 10th. PPL’s dividend payout ratio is presently 91.97%.

Analyst Ratings Changes

PPL has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on shares of PPL in a report on Wednesday. They issued an “outperform” rating and a $36.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target on the stock. Bank of America raised their price target on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Morgan Stanley lifted their target price on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, PPL has an average rating of “Moderate Buy” and a consensus price target of $34.09.

Insiders Place Their Bets

In other news, insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total transaction of $314,680.35. Following the completion of the transaction, the insider now directly owns 12,434 shares of the company’s stock, valued at $427,107.90. The trade was a 42.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by insiders.

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.