Cetera Advisor Networks LLC Has $4.30 Million Stock Position in PPL Co. (NYSE:PPL)

Cetera Advisor Networks LLC lifted its stake in PPL Co. (NYSE:PPLGet Rating) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 158,401 shares of the utilities provider’s stock after acquiring an additional 2,999 shares during the quarter. Cetera Advisor Networks LLC’s holdings in PPL were worth $4,298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PPL. Bridgewater Associates LP increased its position in PPL by 23.0% during the second quarter. Bridgewater Associates LP now owns 132,902 shares of the utilities provider’s stock worth $3,606,000 after buying an additional 24,816 shares during the last quarter. Cullen Capital Management LLC increased its position in PPL by 10.5% during the second quarter. Cullen Capital Management LLC now owns 1,468,126 shares of the utilities provider’s stock worth $39,830,000 after buying an additional 139,292 shares during the last quarter. BOKF NA increased its position in PPL by 1.0% during the second quarter. BOKF NA now owns 134,345 shares of the utilities provider’s stock worth $3,644,000 after buying an additional 1,285 shares during the last quarter. CoreCap Advisors LLC acquired a new position in PPL during the second quarter worth approximately $42,000. Finally, Cobblestone Capital Advisors LLC NY increased its position in PPL by 19.7% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 14,500 shares of the utilities provider’s stock worth $393,000 after buying an additional 2,389 shares during the last quarter. Institutional investors and hedge funds own 69.45% of the company’s stock.

PPL Trading Up 1.3 %

Shares of PPL stock opened at $29.11 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.93. The stock has a market cap of $21.43 billion, a P/E ratio of 30.64 and a beta of 0.77. The stock has a 50 day simple moving average of $26.70 and a 200 day simple moving average of $27.94. PPL Co. has a 1 year low of $23.47 and a 1 year high of $30.99.

PPL Announces Dividend

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

Insider Activity at PPL

In related news, CFO Joseph P. Bergstein, Jr. sold 20,645 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $30.41, for a total value of $627,814.45. Following the completion of the sale, the chief financial officer now directly owns 31,469 shares in the company, valued at $956,972.29. The sale was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on PPL. Guggenheim lowered their price target on PPL from $33.00 to $27.00 in a research report on Monday, October 24th. Bank of America upgraded PPL from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $29.00 to $33.00 in a report on Monday, August 15th. TheStreet cut PPL from a “b” rating to a “c” rating in a report on Thursday, October 20th. Morgan Stanley boosted their price objective on PPL from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, November 11th. Finally, Wells Fargo & Company reduced their price objective on PPL from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

PPL Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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