Bernardo Wealth Planning LLC Makes New $203,000 Investment in PPL Co. (NYSE:PPL)

by · The Cerbat Gem

Bernardo Wealth Planning LLC bought a new stake in shares of PPL Co. (NYSE:PPL – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,278 shares of the utilities provider’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in PPL during the 2nd quarter valued at approximately $29,000. Redwood Wealth Management Group LLC acquired a new position in shares of PPL during the second quarter valued at $29,000. Lynx Investment Advisory bought a new position in shares of PPL during the second quarter worth about $38,000. Family Firm Inc. acquired a new stake in shares of PPL in the 2nd quarter worth about $38,000. Finally, Central Pacific Bank Trust Division bought a new stake in PPL in the 1st quarter valued at about $42,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

PPL Stock Up 0.9 %

Shares of PPL stock opened at $32.66 on Friday. PPL Co. has a 1 year low of $23.36 and a 1 year high of $33.38. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11. The business’s fifty day moving average is $32.08 and its 200-day moving average is $29.65. The stock has a market cap of $24.10 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82.

PPL (NYSE:PPL – Get Free Report) last released its earnings results on Friday, August 2nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company earned $0.29 earnings per share. PPL’s revenue was up 3.2% compared to the same quarter last year. Equities analysts expect that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.15%. The ex-dividend date was Tuesday, September 10th. PPL’s dividend payout ratio is presently 90.35%.

Analyst Ratings Changes

PPL has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Bank of America boosted their price objective on PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Jefferies Financial Group initiated coverage on PPL in a research report on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.56.

Check Out Our Latest Stock Analysis on PPL

About PPL

(Free Report)

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.

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