Sciencast Management LP Trims Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Sciencast Management LP reduced its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 41.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,240 shares of the utilities provider's stock after selling 13,109 shares during the quarter. Sciencast Management LP's holdings in Pinnacle West Capital were worth $1,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PNW. HITE Hedge Asset Management LLC increased its position in shares of 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 valued at $8,178,000 after buying an additional 66,755 shares during the period. XTX Topco Ltd bought a new stake in Pinnacle West Capital during the 3rd quarter worth approximately $2,235,000. Principal Financial Group Inc. lifted its stake in Pinnacle West Capital by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider's stock worth $12,336,000 after purchasing an additional 9,993 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Pinnacle West Capital by 47.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider's stock valued at $995,000 after purchasing an additional 3,758 shares during the period. Finally, Bridgewater Associates LP grew its position in shares of Pinnacle West Capital by 104.5% during the 3rd quarter. Bridgewater Associates LP now owns 101,970 shares of the utilities provider's stock valued at $9,034,000 after purchasing an additional 52,095 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PNW shares. UBS Group increased their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Citigroup raised their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Morgan Stanley boosted their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Jefferies Financial Group cut their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $95.17.

Pinnacle West Capital Price Performance

Shares of PNW stock traded up $0.02 during trading hours on Thursday, hitting $93.01. 1,044,751 shares of the company's stock were exchanged, compared to its average volume of 988,332. The company has a market capitalization of $11.08 billion, a PE ratio of 17.62, a PEG ratio of 3.59 and a beta of 0.53. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $95.42. The business's 50 day simple moving average is $90.00 and its 200-day simple moving average is $88.91.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly 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. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. On average, equities research analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital 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.