Squarepoint Ops LLC Has $25.10 Million Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Squarepoint Ops LLC reduced its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 41.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 328,565 shares of the utilities provider's stock after selling 235,715 shares during the period. Squarepoint Ops LLC owned 0.29% of Pinnacle West Capital worth $25,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock valued at $28,000 after buying an additional 291 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in shares of Pinnacle West Capital in the 1st quarter worth approximately $30,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Pinnacle West Capital by 70.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider's stock worth $35,000 after purchasing an additional 199 shares in the last quarter. Rise Advisors LLC acquired a new stake in Pinnacle West Capital during the first quarter valued at approximately $36,000. Finally, Riverview Trust Co bought a new stake in Pinnacle West Capital during the first quarter worth approximately $46,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley upped their price target on Pinnacle West Capital from $78.00 to $83.00 and gave the company an "equal weight" rating in a report on Wednesday. LADENBURG THALM/SH SH raised Pinnacle West Capital from a "neutral" rating to a "buy" rating and upped their target price for the company from $74.00 to $83.50 in a report on Thursday, June 6th. Wells Fargo & Company lifted their price target on Pinnacle West Capital from $80.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. Barclays reduced their price objective on shares of Pinnacle West Capital from $81.00 to $78.00 and set an "overweight" rating for the company in a research note on Tuesday, July 2nd. Finally, StockNews.com raised shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a research report on Monday, August 5th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $80.54.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Robert Edgar Smith sold 4,950 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the transaction, the executive vice president now owns 6,397 shares of the company's stock, valued at approximately $548,862.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company's stock.

Pinnacle West Capital Stock Down 0.6 %

Shares of Pinnacle West Capital stock opened at $88.39 on Friday. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 2.30 and a beta of 0.52. The stock has a 50-day simple moving average of $87.10 and a 200-day simple moving average of $79.48. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $91.57. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.48.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its earnings results on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.31 by $0.45. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The company's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, equities research analysts expect that Pinnacle West Capital Co. will post 4.77 earnings per share for the current fiscal year.

About Pinnacle West Capital

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.