State of Alaska Department of Revenue Has $2.73 Million Holdings in PPL Co. (NYSE:PPL)

State of Alaska Department of Revenue decreased its position in PPL Co. (NYSE:PPL) by 14.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 84,161 shares of the utilities provider’s stock after selling 13,837 shares during the period. State of Alaska Department of Revenue’s holdings in PPL were worth $2,731,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of PPL by 5.0% in the 3rd quarter. State Street Corp now owns 36,459,099 shares of the utilities provider’s stock valued at $1,215,363,000 after purchasing an additional 1,720,941 shares during the period. Wellington Management Group LLP increased its holdings in PPL by 6.2% in the third quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock worth $1,160,760,000 after purchasing an additional 2,050,122 shares in the last quarter. Franklin Resources Inc. lifted its stake in PPL by 12.0% in the third quarter. Franklin Resources Inc. now owns 34,758,947 shares of the utilities provider’s stock valued at $1,115,824,000 after buying an additional 3,731,412 shares during the period. Geode Capital Management LLC grew its position in shares of 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 buying an additional 201,417 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake 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 acquiring an additional 55,594 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.

PPL Price Performance

Shares of NYSE:PPL opened at $34.12 on Monday. 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 stock has a market cap of $25.18 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. The stock’s fifty day simple moving average is $32.84 and its two-hundred day simple moving average is $32.42. PPL Co. has a 1-year low of $25.35 and a 1-year high of $35.15.

PPL Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.02%. The ex-dividend date was Tuesday, December 10th. PPL’s dividend payout ratio (DPR) is presently 91.97%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BMO Capital Markets began coverage on shares of PPL in a research note on Wednesday, December 11th. They set an “outperform” rating and a $36.00 target price on the stock. Jefferies Financial Group reduced their target price on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Barclays dropped their price target on PPL from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. initiated coverage on PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective for the company. Finally, Citigroup upped their target price on PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PPL currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Insiders Place Their Bets

In other news, COO David J. Bonenberger sold 981 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total transaction of $32,843.88. Following the completion of the sale, the chief operating officer now directly owns 45,414 shares of the company’s stock, valued at $1,520,460.72. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Tadd J. Henninger sold 1,424 shares of PPL stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total value of $47,675.52. Following the sale, the senior vice president now owns 11,259 shares in the company, valued at $376,951.32. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,794 shares of company stock valued at $661,338. Corporate 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.