Cibc World Markets Corp Acquires 16,285 Shares of PPL Co. (NYSE:PPL)

Cibc World Markets Corp lifted its holdings in shares of PPL Co. (NYSE:PPL) by 16.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 116,436 shares of the utilities provider’s stock after buying an additional 16,285 shares during the quarter. Cibc World Markets Corp’s holdings in PPL were worth $3,780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Arbor Capital Management Inc. ADV grew its holdings in shares of PPL by 12.3% during the 4th quarter. Arbor Capital Management Inc. ADV now owns 47,561 shares of the utilities provider’s stock valued at $1,565,000 after purchasing an additional 5,202 shares during the last quarter. Ninepoint Partners LP grew its holdings in shares of PPL by 16.6% during the 4th quarter. Ninepoint Partners LP now owns 38,168 shares of the utilities provider’s stock valued at $1,239,000 after purchasing an additional 5,436 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of PPL by 7.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 73,819 shares of the utilities provider’s stock valued at $2,396,000 after purchasing an additional 5,410 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of PPL by 9.3% during the 4th quarter. Natixis Advisors LLC now owns 690,442 shares of the utilities provider’s stock valued at $22,412,000 after purchasing an additional 58,995 shares during the last quarter. Finally, Frank Rimerman Advisors LLC grew its holdings in shares of PPL by 3.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 11,272 shares of the utilities provider’s stock valued at $366,000 after purchasing an additional 329 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.

PPL Trading Up 0.5 %

NYSE:PPL opened at $35.01 on Thursday. The company has a 50-day moving average price of $33.87 and a 200-day moving average price of $33.16. PPL Co. has a 12 month low of $25.93 and a 12 month high of $35.91. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. The stock has a market cap of $25.84 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 2.77 and a beta of 0.76.

PPL (NYSE:PPL) last posted its 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 return on equity of 8.88% and a net margin of 10.49%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Equities analysts predict that PPL Co. will post 1.83 EPS for the current year.

PPL Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.2725 per share. This is a boost from PPL’s previous quarterly dividend of $0.26. This represents a $1.09 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Monday, March 10th. PPL’s dividend payout ratio (DPR) is 90.08%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PPL shares. Barclays raised their price target 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. Jefferies Financial Group cut their price target on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Citigroup raised shares of PPL from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Finally, BMO Capital Markets started coverage on shares of PPL in a report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target on the stock. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Insider Activity at PPL

In related news, insider Christine M. Martin sold 1,146 shares of PPL stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.78, for a total transaction of $39,857.88. Following the completion of the transaction, the insider now directly owns 37,167 shares of the company’s stock, valued at $1,292,668.26. This trade represents a 2.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John R. Crockett III sold 1,589 shares of PPL stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $33.12, for a total transaction of $52,627.68. Following the completion of the transaction, the insider now directly owns 10,845 shares of the company’s stock, valued at $359,186.40. This trade represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,140 shares of company stock valued at $173,005 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.