Newbridge Financial Services Group Inc. Takes Position in PPL Co. (NYSE:PPL)

Newbridge Financial Services Group Inc. purchased a new position in shares of PPL Co. (NYSE:PPL) during the fourth quarter, HoldingsChannel reports. The firm purchased 3,030 shares of the utilities provider’s stock, valued at approximately $98,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PPL. Fortitude Family Office LLC increased its holdings in shares of PPL by 195.5% during the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in PPL in the 3rd quarter valued at $34,000. Rosenberg Matthew Hamilton increased its stake in PPL by 1,092.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,114 shares in the last quarter. Newton One Investments LLC acquired a new position in PPL during the fourth quarter worth $49,000. Finally, Covestor Ltd lifted its stake in shares of PPL by 139.2% in the third quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock valued at $50,000 after buying an additional 880 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PPL shares. JPMorgan Chase & Co. assumed coverage on shares of PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 target price for the company. BMO Capital Markets started coverage on PPL in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price objective for the company. Bank of America lifted their target price on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Citigroup increased their price target on PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Barclays dropped their price objective on PPL from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, PPL presently has an average rating of “Moderate Buy” and an average price target of $34.00.

PPL Trading Up 0.2 %

NYSE PPL opened at $34.21 on Tuesday. The stock has a market capitalization of $25.24 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 2.75 and a beta of 0.83. The business’s fifty day moving average is $32.84 and its 200-day moving average is $32.45. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07. PPL Co. has a one year low of $25.60 and a one year high of $35.15.

PPL Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were paid a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, December 10th. PPL’s payout ratio is 91.97%.

Insider Activity

In related news, SVP Tadd J. Henninger sold 6,639 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total value of $213,510.24. Following the sale, the senior vice president now directly owns 11,210 shares in the company, valued at approximately $360,513.60. The trade was a 37.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John R. Crockett III sold 9,161 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $34.35, for a total transaction of $314,680.35. Following the transaction, the insider now owns 12,434 shares of the company’s stock, valued at $427,107.90. This represents a 42.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,794 shares of company stock valued at $661,338 in the last three months. Company insiders own 0.22% of the company’s stock.

PPL Company 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.