PPL Co. (NYSE:PPL) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lowered its stake in shares of PPL Co. (NYSE:PPL) by 19.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 43,801 shares of the utilities provider’s stock after selling 10,741 shares during the period. Rockefeller Capital Management L.P.’s holdings in PPL were worth $1,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in PPL by 0.9% during 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 acquiring an additional 55,594 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of PPL by 25.3% during the 2nd quarter. Clearbridge Investments LLC now owns 5,890,854 shares of the utilities provider’s stock valued at $162,882,000 after purchasing an additional 1,189,339 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of PPL by 91.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,821,936 shares of the utilities provider’s stock valued at $160,977,000 after purchasing an additional 2,778,820 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in PPL by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,766,887 shares of the utilities provider’s stock worth $157,689,000 after buying an additional 35,317 shares in the last quarter. Finally, Electron Capital Partners LLC grew its position in PPL by 71.3% during the second quarter. Electron Capital Partners LLC now owns 4,306,007 shares of the utilities provider’s stock valued at $119,061,000 after buying an additional 1,792,200 shares during the period. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Price Performance

PPL stock opened at $33.60 on Friday. The company has a fifty day simple moving average of $33.14 and a 200-day simple moving average of $31.02. The firm has a market capitalization of $24.80 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 2.93 and a beta of 0.82. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. PPL Co. has a 52-week low of $25.35 and a 52-week high of $35.15.

PPL (NYSE:PPL) last announced its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. PPL had a net margin of 9.95% and a return on equity of 9.20%. PPL’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 EPS. On average, equities analysts anticipate that PPL Co. will post 1.72 EPS for the current fiscal year.

PPL Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be issued a $0.2575 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.07%. PPL’s dividend payout ratio is presently 91.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PPL. Jefferies Financial Group started coverage on shares of PPL in a research report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective for the company. Wells Fargo & Company increased their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Bank of America boosted their price objective on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Morgan Stanley upped their target price on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Barclays lifted their price target on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PPL currently has an average rating of “Moderate Buy” and an average target price of $35.50.

Insider Buying and Selling

In related news, insider John R. Crockett III sold 9,161 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the sale, the insider now owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. This represents a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.22% of the stock is currently owned by company insiders.

PPL 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.