Franklin Resources Inc. Has $87.30 Million Stake in PPL Co. (PPL)

Franklin Resources Inc. cut its stake in shares of PPL Co. (NYSE:PPL) by 76.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,820,689 shares of the utilities provider’s stock after selling 9,339,497 shares during the quarter. Franklin Resources Inc. owned 0.41% of PPL worth $87,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Caisse DE Depot ET Placement DU Quebec lifted its holdings in PPL by 37.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,865,118 shares of the utilities provider’s stock valued at $429,125,000 after acquiring an additional 3,808,000 shares during the period. Renaissance Technologies LLC raised its stake in shares of PPL by 1,448.2% during the 4th quarter. Renaissance Technologies LLC now owns 3,088,700 shares of the utilities provider’s stock worth $95,595,000 after buying an additional 2,889,200 shares during the last quarter. Boston Partners purchased a new stake in PPL in the 4th quarter valued at about $81,658,000. Bank of Montreal Can grew its holdings in PPL by 41.9% in the 4th quarter. Bank of Montreal Can now owns 2,654,343 shares of the utilities provider’s stock valued at $82,152,000 after buying an additional 783,951 shares during the period. Finally, Virtus Fund Advisers LLC grew its holdings in PPL by 52.9% in the 4th quarter. Virtus Fund Advisers LLC now owns 2,175,000 shares of the utilities provider’s stock valued at $68,006,000 after buying an additional 752,400 shares during the period. 71.46% of the stock is owned by hedge funds and other institutional investors.

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Shares of NYSE PPL traded down $0.07 during trading on Friday, reaching $27.93. The stock had a trading volume of 5,651,862 shares, compared to its average volume of 7,158,332. PPL Co. has a one year low of $27.08 and a one year high of $40.20. The company has a current ratio of 0.57, a quick ratio of 0.49 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $19,433.39, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 2.02 and a beta of 0.52.

PPL (NYSE:PPL) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.07. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.03 billion. PPL had a return on equity of 14.75% and a net margin of 15.15%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. equities analysts predict that PPL Co. will post 2.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 9th were paid a dividend of $0.41 per share. This is an increase from PPL’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date was Thursday, March 8th. PPL’s dividend payout ratio is presently 72.89%.

Several equities analysts have recently weighed in on the company. ValuEngine lowered PPL from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research raised PPL from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. SunTrust Banks reaffirmed a “buy” rating and issued a $42.00 price objective on shares of PPL in a research note on Tuesday, December 26th. UBS began coverage on PPL in a research report on Friday, February 2nd. They set a “buy” rating and a $40.00 price target on the stock. Finally, Macquarie lowered PPL from a “neutral” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $37.50.

In other news, Chairman Victor A. Staffieri sold 19,524 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $31.60, for a total value of $616,958.40. Following the completion of the transaction, the chairman now owns 29,084 shares of the company’s stock, valued at $919,054.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gregory N. Dudkin sold 9,320 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $31.67, for a total value of $295,164.40. Following the completion of the transaction, the insider now directly owns 25,940 shares of the company’s stock, valued at approximately $821,519.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,978 shares of company stock valued at $1,652,939. 0.40% of the stock is owned by company insiders.

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PPL Company Profile

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.

Institutional Ownership by Quarter for PPL (NYSE:PPL)

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