Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC lessened its stake in Pinnacle West Capital Co. (NYSE:PNW) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,075 shares of the utilities provider’s stock after selling 145 shares during the quarter. Headlands Technologies LLC’s holdings in Pinnacle West Capital were worth $685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNW. Mesirow Financial Investment Management Inc. increased its stake in shares of Pinnacle West Capital by 0.9% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock valued at $1,163,000 after purchasing an additional 116 shares in the last quarter. Fortem Financial Group LLC increased its position in shares of Pinnacle West Capital by 2.2% in the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after buying an additional 124 shares in the last quarter. New York Life Investment Management LLC raised its stake in shares of Pinnacle West Capital by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after buying an additional 127 shares during the period. Global Retirement Partners LLC grew its stake in Pinnacle West Capital by 10.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 156 shares during the period. Finally, 1620 Investment Advisors Inc. increased its holdings in Pinnacle West Capital by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock worth $397,000 after acquiring an additional 162 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PNW has been the subject of several research reports. 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 research note on Thursday, March 20th. UBS Group increased their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Wells Fargo & Company lifted their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Barclays raised their price target on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Moderate Buy” and a consensus target price of $95.50.

Pinnacle West Capital Price Performance

Shares of PNW opened at $95.47 on Thursday. The firm has a 50-day simple moving average of $90.79 and a two-hundred day simple moving average of $89.08. The stock has a market cap of $11.37 billion, a PE ratio of 18.08, a P/E/G ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $95.84. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

Pinnacle West Capital (NYSE:PNW) last posted its 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 net margin of 12.26% and a return on equity of 9.60%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. As a group, analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS 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.