Concannon Wealth Management Lowers stake in PPL Corp (PPL)

PPL Corp (PPL) : Concannon Wealth Management reduced its stake in PPL Corp by 6.01% during the most recent quarter end. The investment management company now holds a total of 87,874 shares of PPL Corp which is valued at $3,260,125 after selling 5,617 shares in PPL Corp , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.PPL Corp makes up approximately 3.26% of Concannon Wealth Management’s portfolio.

Other Hedge Funds, Including , Wedbush Securities Inc reduced its stake in PPL by selling 945 shares or 6.33% in the most recent quarter. The Hedge Fund company now holds 13,990 shares of PPL which is valued at $519,029. PPL Corp makes up approx 0.08% of Wedbush Securities Inc’s portfolio.California State Teachers Retirement System boosted its stake in PPL in the latest quarter, The investment management firm added 19,540 additional shares and now holds a total of 1,479,081 shares of PPL Corp which is valued at $54,873,905. PPL Corp makes up approx 0.11% of California State Teachers Retirement System’s portfolio.Chicago Equity Partners reduced its stake in PPL by selling 19,100 shares or 3.26% in the most recent quarter. The Hedge Fund company now holds 566,080 shares of PPL which is valued at $21,346,877. PPL Corp makes up approx 0.60% of Chicago Equity Partners’s portfolio. Achievement Holdings sold out all of its stake in PPL during the most recent quarter. The investment firm sold 362,700 shares of PPL which is valued $13,427,154.Addison Capital Co reduced its stake in PPL by selling 700 shares or 8.32% in the most recent quarter. The Hedge Fund company now holds 7,712 shares of PPL which is valued at $290,742. PPL Corp makes up approx 0.25% of Addison Capital Co’s portfolio.

PPL Corp closed down -0.12 points or -0.33% at $36.64 with 43,79,141 shares getting traded on Monday. Post opening the session at $36.89, the shares hit an intraday low of $36.61 and an intraday high of $37.0565 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, PPL Corp reported $0.67 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.75. The company had revenue of $2011.00 million for the quarter, compared to analysts expectations of $2260.61 million. The company’s revenue was down -9.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.77 EPS.

Many Wall Street Analysts have commented on PPL Corp. PPL Corp was Downgraded by Jefferies to ” Hold” on Jul 14, 2016.

PPL Corporation (PPL) is an energy and utility holding company. Through its subsidiaries PPL delivers electricity to customers in the United Kingdom Pennsylvania Kentucky Virginia and Tennessee; delivers natural gas to customers in Kentucky; generates electricity from power plants in the northeastern northwestern and southeastern United States and markets wholesale or retail energy in the northeastern and northwestern parts of the United States. PPL operates in four segments: The U.K. Regulated Segment comprising PPL Global comprising WPD Ltd’s (WPD) regulated electricity distribution operations; Kentucky Regulated segment comprising the operations of LG&E and KU Energy LLC which owns and operates regulated public utilities; the Pennsylvania Regulated segment comprising PPL Electric Utilities Corporation’s operations and the Supply segment comprising the activities of PPL Energy Supply LLC’s subsidiaries.

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