Sit Investment Associates Inc. Acquires 4,385 Shares of PPL Co. (NYSE:PPL)

Sit Investment Associates Inc. raised its holdings in shares of PPL Co. (NYSE:PPL) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 362,450 shares of the utilities provider’s stock after acquiring an additional 4,385 shares during the period. Sit Investment Associates Inc.’s holdings in PPL were worth $11,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Captrust Financial Advisors raised its holdings in PPL by 7.1% in the 3rd quarter. Captrust Financial Advisors now owns 35,796 shares of the utilities provider’s stock worth $1,184,000 after purchasing an additional 2,382 shares during the period. Benjamin Edwards Inc. bought a new position in shares of PPL in the third quarter worth about $386,000. Centiva Capital LP lifted its position in shares of PPL by 20.7% during the 3rd quarter. Centiva Capital LP now owns 29,647 shares of the utilities provider’s stock valued at $981,000 after buying an additional 5,078 shares in the last quarter. Hilltop Holdings Inc. grew its stake in shares of PPL by 81.0% during the 3rd quarter. Hilltop Holdings Inc. now owns 16,094 shares of the utilities provider’s stock valued at $532,000 after acquiring an additional 7,200 shares during the period. Finally, HighTower Advisors LLC increased its holdings in PPL by 8.9% in the 3rd quarter. HighTower Advisors LLC now owns 160,417 shares of the utilities provider’s stock worth $5,305,000 after acquiring an additional 13,169 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors.

PPL Price Performance

Shares of PPL stock opened at $34.48 on Friday. The firm has a market cap of $25.46 billion, a PE ratio of 28.50, a PEG ratio of 2.77 and a beta of 0.65. The stock has a 50 day moving average of $34.51 and a 200 day moving average of $33.41. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. PPL Co. has a 12 month low of $25.93 and a 12 month high of $36.64.

PPL (NYSE:PPL) last posted its earnings results on Thursday, February 13th. The utilities provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). PPL had a net margin of 10.49% and a return on equity of 8.88%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, research analysts expect that PPL Co. will post 1.83 EPS for the current fiscal year.

PPL Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $0.2725 dividend. This is a boost from PPL’s previous quarterly dividend of $0.26. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, March 10th. PPL’s dividend payout ratio (DPR) is presently 90.08%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup raised shares of PPL from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Jefferies Financial Group dropped their target price on shares of PPL from $39.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Morgan Stanley increased their price target on PPL from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Barclays boosted their price objective on PPL from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 25th. Finally, BMO Capital Markets initiated coverage on PPL in a research report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 target price for the company. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PPL presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.27.

Insider Transactions at PPL

In other news, insider John R. Crockett III sold 1,589 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $33.12, for a total value of $52,627.68. Following the completion of the sale, the insider now directly owns 10,845 shares of the company’s stock, valued at $359,186.40. This trade represents a 12.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christine M. Martin sold 1,146 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $34.78, for a total value of $39,857.88. Following the transaction, the insider now directly owns 37,167 shares in the company, valued at approximately $1,292,668.26. This represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,140 shares of company stock worth $173,005 in the last three months. Insiders own 0.22% of the company’s stock.

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.