Axa decreased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,759 shares of the utilities provider’s stock after selling 3,000 shares during the quarter. Axa’s holdings in Pinnacle West Capital were worth $1,427,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of PNW. Banced Corp acquired a new position in Pinnacle West Capital in the fourth quarter valued at $201,000. Kovack Advisors Inc. acquired a new position in Pinnacle West Capital in the fourth quarter valued at $202,000. Krilogy Financial LLC acquired a new position in shares of Pinnacle West Capital during the third quarter worth about $211,000. IBM Retirement Fund acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth about $281,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth about $290,000. Institutional investors and hedge funds own 82.63% of the company’s stock.
Shares of Pinnacle West Capital stock opened at $77.95 on Thursday. Pinnacle West Capital Co. has a 52-week low of $73.81 and a 52-week high of $92.48. The stock has a market capitalization of $8,690.20, a PE ratio of 17.92, a PEG ratio of 5.87 and a beta of 0.31. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.61 and a current ratio of 0.85.
Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Friday, February 23rd. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.09. Pinnacle West Capital had a return on equity of 9.59% and a net margin of 13.70%. The business had revenue of $759.65 million for the quarter, compared to analyst estimates of $773.12 million. During the same period in the previous year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. research analysts predict that Pinnacle West Capital Co. will post 4.46 EPS for the current year.
A number of research analysts have commented on the company. SunTrust Banks restated a “hold” rating and set a $91.00 price objective on shares of Pinnacle West Capital in a research note on Friday, November 24th. Morgan Stanley boosted their price objective on Pinnacle West Capital from $90.00 to $91.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 13th. ValuEngine cut Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Bank of America cut Pinnacle West Capital from a “neutral” rating to an “underperform” rating and set a $84.00 price objective on the stock. in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $84.36.
In related news, Director Kathryn L. Munro sold 2,666 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $75.36, for a total value of $200,909.76. Following the completion of the sale, the director now directly owns 15,630 shares of the company’s stock, valued at $1,177,876.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Donald E. Brandt sold 24,216 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $79.21, for a total value of $1,918,149.36. Following the completion of the sale, the chairman now directly owns 94,358 shares of the company’s stock, valued at $7,474,097.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,110 shares of company stock worth $5,300,760. Corporate insiders own 0.70% of the company’s stock.
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Pinnacle West Capital Profile
Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.
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