Trexquant Investment LP Sells 31,380 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Trexquant Investment LP lowered its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 41.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,138 shares of the utilities provider's stock after selling 31,380 shares during the quarter. Trexquant Investment LP's holdings in Pinnacle West Capital were worth $3,742,000 at the end of the most recent quarter.

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

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock traded up $1.68 during midday trading on Friday, hitting $91.96. 1,123,857 shares of the company were exchanged, compared to its average volume of 1,078,026. The firm has a 50 day simple moving average of $91.56 and a 200-day simple moving average of $89.15. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The firm has a market cap of $10.95 billion, a P/E ratio of 17.42, a PEG ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 52 week low of $70.73 and a 52 week high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. Research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PNW shares. Jefferies Financial Group reduced 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 report on Tuesday, January 28th. Wells Fargo & Company increased 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 note on Wednesday, February 26th. Barclays boosted their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 1st. Morgan Stanley raised their price objective on 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. Finally, UBS Group boosted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $95.50.

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.