Christine M. Martin Sells 1,146 Shares of PPL Co. (NYSE:PPL) Stock

PPL Co. (NYSE:PPL) insider Christine M. Martin sold 1,146 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 37,167 shares in the company, valued at $1,292,668.26. This trade represents a 2.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PPL Stock Performance

NYSE PPL opened at $34.57 on Thursday. The business’s 50-day moving average price is $33.44 and its 200 day moving average price is $32.96. PPL Co. has a twelve month low of $25.93 and a twelve month high of $35.91. The company has a market capitalization of $25.52 billion, a PE ratio of 28.57, a price-to-earnings-growth 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 (NYSE:PPL) last released its earnings results on Thursday, February 13th. The utilities provider reported $0.34 earnings per share 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 business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.09 billion. On average, research analysts predict that PPL Co. will post 1.83 earnings per share for the current year.

PPL Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.2725 per share. The ex-dividend date is Monday, March 10th. This is an increase from PPL’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a yield of 3.15%. PPL’s dividend payout ratio is 90.08%.

Analysts Set New Price Targets

Several analysts have weighed in on PPL shares. 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. Barclays upped their target price on PPL from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. Citigroup upped their target price on PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group decreased their price objective on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, PPL currently has an average rating of “Moderate Buy” and a consensus target price of $34.27.

Hedge Funds Weigh In On PPL

Large investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new position in PPL during the fourth quarter worth about $26,000. Kentucky Trust Co purchased a new position in shares of PPL in the 4th quarter worth about $32,000. Lee Danner & Bass Inc. purchased a new position in shares of PPL in the 4th quarter worth about $32,000. Ashton Thomas Securities LLC purchased a new position in shares of PPL in the 3rd quarter worth about $34,000. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of PPL by 1,092.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,114 shares during the period. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

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.