Natixis Advisors LLC Decreases Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Natixis Advisors LLC reduced its position in Pinnacle West Capital Co. (NYSE:PNW) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The firm 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 reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in Pinnacle West Capital by 3.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 43,323 shares of the utilities provider’s stock valued at $3,672,000 after purchasing an additional 1,425 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Pinnacle West Capital in the 4th quarter valued at about $1,178,000. Vestcor Inc increased its holdings in Pinnacle West Capital by 13.5% during the 4th quarter. Vestcor Inc now owns 21,514 shares of the utilities provider’s stock valued at $1,824,000 after acquiring an additional 2,564 shares in the last quarter. Swiss National Bank raised its position in Pinnacle West Capital by 0.7% during the fourth quarter. Swiss National Bank now owns 223,400 shares of the utilities provider’s stock worth $18,938,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Pinnacle West Capital by 332.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,224 shares of the utilities provider’s stock valued at $14,091,000 after purchasing an additional 127,794 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in 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 raised their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Wells Fargo & Company lifted their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Citigroup upped their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.17.

Pinnacle West Capital Price Performance

PNW opened at $93.01 on Tuesday. Pinnacle West Capital Co. has a 1 year low of $70.73 and a 1 year high of $95.42. The company’s 50 day simple moving average is $89.67 and its 200 day simple moving average is $88.85. The stock has a market capitalization of $11.08 billion, a PE ratio of 17.62, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect 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.