Pinnacle West Capital Co. (NYSE:PNW) Position Reduced by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd cut its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 45.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,330 shares of the utilities provider's stock after selling 18,268 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Pinnacle West Capital were worth $1,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital in the fourth quarter worth $29,000. Brown Lisle Cummings Inc. acquired a new position in Pinnacle West Capital in the 4th quarter valued at $38,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $42,000. Transcendent Capital Group LLC purchased a new stake in Pinnacle West Capital during the fourth quarter worth about $46,000. Finally, Allworth Financial LP raised its holdings in Pinnacle West Capital by 125.9% during the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock worth $56,000 after purchasing an additional 365 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PNW. Morgan Stanley boosted their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Barclays upped their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a report on Tuesday, April 1st. UBS Group boosted their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, March 21st. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Guggenheim reissued a "buy" rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital has an average rating of "Moderate Buy" and a consensus target price of $95.50.

Pinnacle West Capital Stock Down 0.9 %

Pinnacle West Capital stock traded down $0.79 during trading on Thursday, reaching $89.83. 351,079 shares of the company's stock were exchanged, compared to its average volume of 1,076,104. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 52-week low of $70.73 and a 52-week high of $96.50. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 3.59 and a beta of 0.42. The company's 50-day moving average is $91.39 and its two-hundred day moving average is $89.12.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.25. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. On average, analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.