Centennial Wealth Advisory LLC Grows Stock Position in PPL Co. (NYSE:PPL)

Centennial Wealth Advisory LLC increased its position in shares of PPL Co. (NYSE:PPL) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,678 shares of the utilities provider’s stock after purchasing an additional 428 shares during the period. Centennial Wealth Advisory LLC’s holdings in PPL were worth $386,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its holdings in PPL by 195.5% during the 3rd 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 during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of PPL in the 2nd quarter worth approximately $29,000. Redwood Wealth Management Group LLC purchased a new stake in shares of PPL in the 2nd quarter worth approximately $29,000. Lynx Investment Advisory purchased a new stake in shares of PPL in the 2nd quarter worth approximately $38,000. Finally, Family Firm Inc. purchased a new stake in shares of PPL in the 2nd quarter worth approximately $38,000. 76.99% of the stock is currently owned by institutional investors.

PPL Trading Up 0.0 %

PPL stock traded up $0.01 during midday trading on Wednesday, hitting $32.60. 361,676 shares of the stock were exchanged, compared to its average volume of 4,830,896. PPL Co. has a fifty-two week low of $24.93 and a fifty-two week high of $33.38. The stock has a market capitalization of $24.05 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 2.70 and a beta of 0.81. The stock’s 50-day simple moving average is $32.35 and its 200 day simple moving average is $30.14. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17.

PPL (NYSE:PPL) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the business earned $0.43 earnings per share. PPL’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that PPL Co. will post 1.72 EPS for the current year.

PPL Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Tuesday, September 10th. PPL’s payout ratio is 91.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group started coverage on shares of PPL in a research note on Thursday, September 19th. They set a “buy” rating and a $38.00 price target on the stock. Morgan Stanley upped their price objective on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. started coverage on shares of PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 price target on the stock. Finally, Bank of America increased their price target on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.50.

PPL 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.