Retirement Systems of Alabama Reduces Position in PPL Co. (NYSE:PPL)

Retirement Systems of Alabama trimmed its position in PPL Co. (NYSE:PPL) by 86.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,878 shares of the utilities provider’s stock after selling 1,039,088 shares during the period. Retirement Systems of Alabama’s holdings in PPL were worth $5,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

PPL Stock Performance

PPL opened at $31.59 on Thursday. The firm’s fifty day simple moving average is $33.12 and its two-hundred day simple moving average is $31.23. PPL Co. has a 52-week low of $25.35 and a 52-week high of $35.15. The company has a market cap of $23.31 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 2.78 and a beta of 0.82. 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 (NYSE:PPL) last posted its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. PPL had a return on equity of 9.20% and a net margin of 9.95%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the firm posted $0.43 EPS. PPL’s revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 3.26%. The ex-dividend date is Tuesday, December 10th. PPL’s dividend payout ratio is currently 91.96%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Bank of America upped their target price on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Barclays raised PPL from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 12th. Jefferies Financial Group lowered their price objective on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Citigroup lifted their target price on shares of PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.09.

Insider Buying and Selling at PPL

In other news, SVP Tadd J. Henninger sold 6,639 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 directly owns 11,210 shares in the company, valued at $360,513.60. This represents a 37.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John R. Crockett III sold 9,161 shares of PPL 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 transaction, the insider now owns 12,434 shares in the company, valued at approximately $427,107.90. The trade was a 42.42 % decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.

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.