Cibc World Market Inc. Purchases 925 Shares of PPL Co. (NYSE:PPL)

Cibc World Market Inc. increased its position in shares of PPL Co. (NYSE:PPLGet Rating) by 12.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,465 shares of the utilities provider’s stock after purchasing an additional 925 shares during the quarter. Cibc World Market Inc.’s holdings in PPL were worth $230,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PPL. NewSquare Capital LLC lifted its position in PPL by 76.3% during the 1st quarter. NewSquare Capital LLC now owns 922 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 399 shares during the period. Worth Asset Management LLC acquired a new position in PPL in the first quarter valued at approximately $27,000. CX Institutional bought a new position in PPL in the second quarter valued at approximately $30,000. Global Retirement Partners LLC grew its holdings in PPL by 34.5% during the 2nd quarter. Global Retirement Partners LLC now owns 1,692 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 434 shares during the period. Finally, ACG Wealth acquired a new position in shares of PPL in the 2nd quarter valued at $49,000. Institutional investors own 69.45% of the company’s stock.

PPL Stock Up 1.3 %

Shares of PPL stock opened at $29.11 on Friday. The business’s 50 day simple moving average is $26.69 and its 200 day simple moving average is $27.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.69 and a current ratio of 0.82. The firm has a market cap of $21.43 billion, a PE ratio of 30.64 and a beta of 0.77. PPL Co. has a 52-week low of $23.47 and a 52-week high of $30.99.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a dividend of $0.225 per share. The ex-dividend date is Thursday, December 8th. This represents a $0.90 annualized dividend and a yield of 3.09%. PPL’s payout ratio is presently 94.74%.

Analyst Ratings Changes

PPL has been the subject of a number of analyst reports. Seaport Res Ptn raised PPL from a “neutral” rating to a “buy” rating in a research note on Thursday, October 6th. Morgan Stanley increased their price target on shares of PPL from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, November 11th. Bank of America upgraded shares of PPL from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $33.00 in a report on Monday, August 15th. Evercore ISI increased their target price on shares of PPL to $32.00 in a report on Tuesday, August 9th. Finally, StockNews.com started coverage on shares of PPL in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

PPL Company Profile

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PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through two segments: Kentucky Regulated and Pennsylvania Regulated. It serves approximately 429,000 electric and 333,000 natural gas customers in Louisville and adjacent areas in Kentucky; 538,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in five counties in southwestern Virginia.

See Also

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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