Quantbot Technologies LP Sells 41,752 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Quantbot Technologies LP lowered its stake in Pinnacle West Capital Co. (NYSE:PNW) by 95.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund 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 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in 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 valued at $57,413,000 after buying an additional 466,736 shares during the period. Jennison Associates LLC bought a new position in shares of Pinnacle West Capital during the fourth quarter valued at approximately $32,078,000. Reaves W H & Co. Inc. lifted 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 worth $117,891,000 after acquiring an additional 362,083 shares during the period. Yaupon Capital Management LP bought a new stake in Pinnacle West Capital in the third quarter valued at $22,173,000. Finally, Zimmer Partners LP boosted its stake in shares of Pinnacle West Capital by 5.7% during the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $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 Up 1.3 %

PNW opened at $94.23 on Monday. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 3.59 and a beta of 0.53. The firm has a 50 day moving average price of $90.28 and a 200-day moving average price of $88.96. Pinnacle West Capital Co. has a twelve month low of $70.73 and a twelve month high of $95.42. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.06 billion. Equities research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PNW has been the topic of a number of research analyst reports. UBS Group upped their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Guggenheim reissued a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Citigroup raised their target price 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. Wells Fargo & Company raised their price objective on 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. Finally, Jefferies Financial Group lowered their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Six equities 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.com, Pinnacle West Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.17.

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.