Quantbot Technologies LP reduced its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 95.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,978 shares of the utilities provider's stock after selling 41,752 shares during the quarter. Quantbot Technologies LP's holdings in Pinnacle West Capital were worth $168,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. HITE Hedge Asset Management LLC boosted its position in Pinnacle West Capital by 261.2% during the third quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider's stock worth $8,178,000 after purchasing an additional 66,755 shares during the period. XTX Topco Ltd acquired a new stake in shares of Pinnacle West Capital during the 3rd quarter worth about $2,235,000. Principal Financial Group Inc. boosted its holdings in shares of Pinnacle West Capital by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider's stock worth $12,336,000 after buying an additional 9,993 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Pinnacle West Capital by 47.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider's stock worth $995,000 after buying an additional 3,758 shares during the period. Finally, Blue Trust Inc. grew its stake in Pinnacle West Capital by 33.3% in the 4th quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider's stock valued at $128,000 after buying an additional 360 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.
Pinnacle West Capital Price Performance
Shares of NYSE:PNW traded down $0.37 during midday trading on Thursday, hitting $95.06. The stock had a trading volume of 1,073,594 shares, compared to its average volume of 1,059,244. The company's 50-day moving average price is $90.98 and its 200-day moving average price is $89.13. Pinnacle West Capital Co. has a fifty-two week low of $70.73 and a fifty-two week high of $96.50. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $11.32 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.
Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.25. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. As a group, equities research analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the company. KeyCorp upgraded Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price objective for the company in a report on Wednesday, December 4th. UBS Group lifted their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Morgan Stanley upped their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "strong-buy" rating in a report on Monday, March 17th. Finally, Wells Fargo & Company boosted their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $95.50.
Check Out Our Latest Research Report on PNW
About Pinnacle West Capital
(
Free Report)
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.
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