Franklin Resources Inc. Has $1.20 Billion Position in PPL Co. (NYSE:PPL)

Franklin Resources Inc. raised its position in PPL Co. (NYSE:PPL) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,829,446 shares of the utilities provider’s stock after buying an additional 2,070,499 shares during the quarter. Franklin Resources Inc.’s holdings in PPL were worth $1,195,484,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners boosted its stake in shares of PPL by 8,266.9% in the 4th quarter. Boston Partners now owns 9,518,141 shares of the utilities provider’s stock valued at $309,060,000 after purchasing an additional 9,404,382 shares in the last quarter. Norges Bank bought a new stake in PPL in the fourth quarter valued at approximately $228,509,000. Raymond James Financial Inc. bought a new position in PPL during the fourth quarter worth $147,480,000. Reaves W H & Co. Inc. lifted its stake in shares of PPL by 182.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 3,951,116 shares of the utilities provider’s stock valued at $128,254,000 after purchasing an additional 2,551,070 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of 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 buying an additional 2,050,122 shares during the period. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Stock Performance

Shares of PPL stock opened at $35.70 on Monday. The company has a market cap of $26.36 billion, a P/E ratio of 29.51, a PEG ratio of 2.77 and a beta of 0.76. 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 $35.97. The firm has a fifty day moving average price of $34.23 and a 200 day moving average price of $33.30.

PPL (NYSE:PPL) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). PPL had a return on equity of 8.88% and a net margin of 10.49%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.09 billion. Sell-side analysts predict that PPL Co. will post 1.83 earnings per share for the current fiscal year.

PPL Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $0.2725 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from PPL’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a yield of 3.05%. PPL’s dividend payout ratio (DPR) is currently 90.08%.

Analyst Upgrades and Downgrades

PPL has been the subject of a number of analyst reports. Jefferies Financial Group cut their price target on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Morgan Stanley boosted their price objective on PPL from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. BMO Capital Markets initiated coverage on PPL in a report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price objective on the stock. Citigroup raised PPL from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Finally, UBS Group boosted their price target on PPL from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Four equities 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’s stock. According to data from MarketBeat.com, PPL currently has an average rating of “Moderate Buy” and an average target price of $35.27.

Insider Buying and Selling at PPL

In related news, insider John R. Crockett III sold 1,589 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $33.12, for a total transaction 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 approximately $359,186.40. This represents a 12.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David J. Bonenberger sold 981 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was 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 of the company’s stock, valued at approximately $1,520,460.72. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,140 shares of company stock valued at $173,005 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

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.