Dynamic Technology Lab Private Ltd Sells 18,268 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Dynamic Technology Lab Private Ltd trimmed its stake in Pinnacle West Capital Co. (NYSE:PNW) by 45.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,330 shares of the utilities provider’s stock after selling 18,268 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Pinnacle West Capital were worth $1,893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Pinnacle West Capital during the fourth quarter worth about $194,655,000. Assenagon Asset Management S.A. grew its holdings in shares of Pinnacle West Capital by 221.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock worth $57,413,000 after purchasing an additional 466,736 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Pinnacle West Capital during the 4th quarter worth approximately $32,078,000. Reaves W H & Co. Inc. increased its position in shares of Pinnacle West Capital by 35.2% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider’s stock valued at $117,891,000 after purchasing an additional 362,083 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in shares of Pinnacle West Capital by 17.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,855,586 shares of the utilities provider’s stock valued at $157,298,000 after purchasing an additional 268,951 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Down 4.3 %

NYSE PNW opened at $91.15 on Friday. Pinnacle West Capital Co. has a 12 month low of $70.73 and a 12 month high of $96.50. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average of $91.09 and a 200-day moving average of $89.12. The company has a market cap of $10.86 billion, a PE ratio of 17.26, a PEG ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The firm 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, equities research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Analysts Set New Price Targets

PNW has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Barclays upped their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company raised their price target 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 Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Jefferies Financial Group cut their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.50.

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.