ExodusPoint Capital Management LP Has $57.76 Million Holdings in PPL Co. (NYSE:PPL)

ExodusPoint Capital Management LP cut its position in shares of PPL Co. (NYSE:PPL) by 59.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,779,360 shares of the utilities provider’s stock after selling 2,623,831 shares during the period. PPL accounts for about 0.4% of ExodusPoint Capital Management LP’s investment portfolio, making the stock its 26th largest position. ExodusPoint Capital Management LP owned approximately 0.24% of PPL worth $57,758,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. World Investment Advisors acquired a new stake in PPL in the fourth quarter valued at approximately $331,000. Geode Capital Management LLC raised its holdings in shares of PPL by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 17,677,941 shares of the utilities provider’s stock valued at $572,300,000 after purchasing an additional 500,058 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of PPL by 8.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 11,038 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 880 shares during the last quarter. Franklin Resources Inc. boosted its holdings in PPL by 6.0% in the fourth quarter. Franklin Resources Inc. now owns 36,829,446 shares of the utilities provider’s stock worth $1,195,484,000 after purchasing an additional 2,070,499 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in PPL by 20.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 13,122 shares of the utilities provider’s stock worth $425,000 after buying an additional 2,227 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Stock Up 0.3 %

Shares of PPL opened at $36.18 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.71 and a current ratio of 0.86. The company has a 50-day simple moving average of $34.41 and a 200-day simple moving average of $33.37. PPL Co. has a 52 week low of $25.93 and a 52 week high of $36.42. The firm has a market capitalization of $26.71 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.77 and a beta of 0.76.

PPL (NYSE:PPL) last posted its quarterly 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 net margin of 10.49% and a return on equity of 8.88%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.09 billion. On average, equities research analysts expect that PPL Co. will post 1.83 earnings per share for the current year.

PPL Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $0.2725 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.09 dividend on an annualized basis and a yield of 3.01%. This is an increase from PPL’s previous quarterly dividend of $0.26. PPL’s payout ratio is currently 90.08%.

Insider Buying and Selling at PPL

In related news, insider John R. Crockett III sold 1,589 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $33.12, for a total value of $52,627.68. Following the sale, the insider now owns 10,845 shares of the company’s stock, valued at $359,186.40. The trade was a 12.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine M. Martin sold 1,146 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.78, for a total value of $39,857.88. Following the transaction, the insider now owns 37,167 shares of the company’s stock, valued at $1,292,668.26. This represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,140 shares of company stock valued at $173,005 in the last 90 days. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PPL. Citigroup upgraded PPL from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. UBS Group upped their target price on PPL from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. BMO Capital Markets began coverage on shares of PPL in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target on the stock. Morgan Stanley upped their price objective on shares of PPL from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, Barclays lifted their target price on shares of PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.27.

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.