Sciencast Management LP Sells 13,109 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Sciencast Management LP lessened its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 41.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,240 shares of the utilities provider’s stock after selling 13,109 shares during the period. Sciencast Management LP’s holdings in Pinnacle West Capital were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNW. HITE Hedge Asset Management LLC lifted its stake in Pinnacle West Capital by 261.2% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock valued at $8,178,000 after purchasing an additional 66,755 shares during the last quarter. XTX Topco Ltd bought a new position in Pinnacle West Capital in the 3rd quarter valued at 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 valued at $12,336,000 after purchasing an additional 9,993 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 last quarter. Finally, Bridgewater Associates LP lifted its stake in Pinnacle West Capital by 104.5% in 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 during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PNW shares. Jefferies Financial Group dropped their price objective 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. UBS Group upped their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday. Citigroup upped their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Guggenheim restated a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.17.

Pinnacle West Capital Trading Down 0.6 %

PNW opened at $93.67 on Friday. 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. The company has a fifty day moving average of $89.46 and a 200-day moving average of $88.82. The stock has a market cap of $11.16 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.25. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. On average, sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

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.