Pensionfund DSM Netherlands Buys 8,000 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Pensionfund DSM Netherlands lifted its stake in Pinnacle West Capital Co. (NYSE:PNW) by 28.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 36,000 shares of the utilities provider’s stock after purchasing an additional 8,000 shares during the quarter. Pensionfund DSM Netherlands’ holdings in Pinnacle West Capital were worth $2,929,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC boosted its stake in shares of Pinnacle West Capital by 21.8% in the fourth quarter. LPL Financial LLC now owns 16,971 shares of the utilities provider’s stock valued at $1,357,000 after buying an additional 3,032 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Pinnacle West Capital by 4.7% in the fourth quarter. Squarepoint Ops LLC now owns 130,480 shares of the utilities provider’s stock valued at $10,432,000 after buying an additional 5,818 shares during the period. ExodusPoint Capital Management LP bought a new stake in shares of Pinnacle West Capital in the third quarter valued at approximately $2,251,000. California State Teachers Retirement System boosted its stake in shares of Pinnacle West Capital by 4.9% in the third quarter. California State Teachers Retirement System now owns 240,937 shares of the utilities provider’s stock valued at $17,962,000 after buying an additional 11,357 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of Pinnacle West Capital by 5.2% in the fourth quarter. New York State Teachers Retirement System now owns 172,547 shares of the utilities provider’s stock valued at $13,795,000 after buying an additional 8,502 shares during the period. Institutional investors and hedge funds own 82.78% of the company’s stock.

Several research firms have weighed in on PNW. Zacks Investment Research cut Pinnacle West Capital from a “buy” rating to a “hold” rating and set a $85.00 target price for the company. in a research note on Friday, December 11th. Credit Suisse Group restated a “neutral” rating and set a $81.00 target price (down from $86.00) on shares of Pinnacle West Capital in a research note on Wednesday, March 3rd. The Goldman Sachs Group cut their target price on Pinnacle West Capital from $92.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, March 22nd. TheStreet cut Pinnacle West Capital from a “b” rating to a “c+” rating in a research note on Tuesday, March 16th. Finally, Morgan Stanley upped their target price on Pinnacle West Capital from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.11.

NYSE PNW opened at $82.26 on Thursday. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 4.47 and a beta of 0.25. Pinnacle West Capital Co. has a twelve month low of $69.29 and a twelve month high of $91.88. The stock has a fifty day simple moving average of $77.84 and a 200 day simple moving average of $79.55. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 1.06.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, February 23rd. The utilities provider reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.21). The company had revenue of $740.96 million during the quarter, compared to analyst estimates of $672.70 million. Pinnacle West Capital had a net margin of 18.03% and a return on equity of 11.16%. Research analysts expect that Pinnacle West Capital Co. will post 5.08 earnings per share for the current fiscal year.

About Pinnacle West Capital

Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985 and is headquartered in Phoenix, AZ.

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Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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