Assetmark Inc buys $22.7 Million stake in PPL Corp (PPL)

PPL Corp (PPL) : Assetmark Inc scooped up 44,269 additional shares in PPL Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 584,045 shares of PPL Corp which is valued at $22.7 Million.PPL Corp makes up approximately 0.40% of Assetmark Inc’s portfolio.

Other Hedge Funds, Including , Piedmont Investment Advisors added PPL to its portfolio by purchasing 122,556 company shares during the most recent quarter which is valued at $4.8 Million. PPL Corp makes up approx 0.10% of Piedmont Investment Advisors’s portfolio.Reaves W H Co Inc boosted its stake in PPL in the latest quarter, The investment management firm added 2,646 additional shares and now holds a total of 1,763,361 shares of PPL Corp which is valued at $68.6 Million. PPL Corp makes up approx 2.45% of Reaves W H Co Inc’s portfolio.Mycio Wealth Partners reduced its stake in PPL by selling 6,800 shares or 5.02% in the most recent quarter. The Hedge Fund company now holds 128,594 shares of PPL which is valued at $5 Million. PPL Corp makes up approx 0.89% of Mycio Wealth Partners’s portfolio.Mutual Of America Capital Management boosted its stake in PPL in the latest quarter, The investment management firm added 1,729 additional shares and now holds a total of 116,610 shares of PPL Corp which is valued at $4.5 Million. PPL Corp makes up approx 0.10% of Mutual Of America Capital Management’s portfolio.Sandy Spring Bank boosted its stake in PPL in the latest quarter, The investment management firm added 1,075 additional shares and now holds a total of 3,632 shares of PPL Corp which is valued at $139,106. PPL Corp makes up approx 0.02% of Sandy Spring Bank’s portfolio.

PPL Corp closed down -0.06 points or -0.16% at $38 with 27,96,323 shares getting traded on Wednesday. Post opening the session at $37.83, the shares hit an intraday low of $37.66 and an intraday high of $38.105 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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. Company shares were Reiterated by Barclays on Apr 22, 2016 to “Overweight”, Firm has raised the Price Target to $ 41 from a previous price target of $39 .Company shares were Reiterated by Argus on Mar 21, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $40 .Shares were Reiterated by Barclays on Feb 29, 2016 to “Overweight” and Lowered the Price Target to $ 39 from a previous price target of $41 .

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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