Bahl & Gaynor Inc. Boosts Stake in PPL Co. (NYSE:PPL)

Bahl & Gaynor Inc. increased its position in shares of PPL Co. (NYSE:PPL) by 16.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,936,992 shares of the utilities provider’s stock after buying an additional 550,302 shares during the quarter. Bahl & Gaynor Inc. owned about 0.53% of PPL worth $127,795,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PPL. State Street Corp boosted its holdings in shares of PPL by 5.0% in the third quarter. State Street Corp now owns 36,459,099 shares of the utilities provider’s stock valued at $1,215,363,000 after acquiring an additional 1,720,941 shares during the period. Wellington Management Group LLP raised its position in PPL by 6.2% in the 3rd quarter. Wellington Management Group LLP now owns 35,089,490 shares of the utilities provider’s stock valued at $1,160,760,000 after purchasing an additional 2,050,122 shares during the last quarter. Franklin Resources Inc. boosted its stake in PPL by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 34,758,947 shares of the utilities provider’s stock worth $1,115,824,000 after purchasing an additional 3,731,412 shares during the period. Geode Capital Management LLC grew its position in 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 purchasing an additional 201,417 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in PPL by 0.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,407 shares of the utilities provider’s stock valued at $215,430,000 after purchasing an additional 55,594 shares during the period. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Stock Up 1.3 %

PPL stock opened at $35.67 on Tuesday. The stock’s 50 day moving average price is $33.35 and its 200 day moving average price is $32.93. PPL Co. has a 1-year low of $25.93 and a 1-year high of $35.69. The company has a market cap of $26.33 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 2.77 and a beta of 0.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.71.

PPL (NYSE:PPL) last issued its earnings results on Thursday, February 13th. The utilities provider reported $0.34 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 company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.09 billion. On average, sell-side analysts predict that PPL Co. will post 1.83 EPS 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 dividend of $0.2725 per share. 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 3.06%. The ex-dividend date of this dividend is Monday, March 10th. PPL’s dividend payout ratio is presently 90.08%.

Insider Buying and Selling at PPL

In other PPL news, COO David J. Bonenberger sold 981 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total value of $32,843.88. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tadd J. Henninger sold 6,639 shares of PPL stock in a transaction 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 transaction, the senior vice president now directly owns 11,210 shares of the company’s stock, valued at $360,513.60. This trade represents a 37.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,633 shares of company stock valued at $346,657. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Bank of America increased their target price on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group reduced their price objective on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Citigroup lifted their target price on PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. BMO Capital Markets started coverage on PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 target price on the stock. Finally, Barclays increased their price target on PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.27.

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.