Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lowered its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,587 shares of the utilities provider’s stock after selling 1,634 shares during the period. Natixis Advisors LLC’s holdings in Pinnacle West Capital were worth $1,830,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of Pinnacle West Capital by 221.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock worth $57,413,000 after buying an additional 466,736 shares during the last quarter. Jennison Associates LLC purchased a new stake in Pinnacle West Capital in the fourth quarter valued at $32,078,000. Reaves W H & Co. Inc. boosted its stake in Pinnacle West Capital by 35.2% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider’s stock valued at $117,891,000 after acquiring an additional 362,083 shares in the last quarter. Yaupon Capital Management LP purchased a new position in shares of Pinnacle West Capital during the third quarter worth about $22,173,000. Finally, Zimmer Partners LP increased its position in shares of Pinnacle West Capital by 5.7% during the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after purchasing an additional 155,466 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $93.01 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average is $89.67 and its two-hundred day moving average is $88.85. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $95.42.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNW. UBS Group raised their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday. Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Jefferies Financial Group decreased 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. Citigroup lifted their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. 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 stock. According to data from MarketBeat, Pinnacle West Capital has a consensus rating of “Moderate Buy” and an average target price of $95.17.

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.