Sciencast Management LP Sells 13,109 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Sciencast Management LP trimmed its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 41.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,240 shares of the utilities provider’s stock after selling 13,109 shares during the quarter. Sciencast Management LP’s holdings in Pinnacle West Capital were worth $1,546,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. YANKCOM Partnership bought a new position in shares of Pinnacle West Capital in the fourth quarter valued at $29,000. Brown Lisle Cummings Inc. bought a new position in shares of Pinnacle West Capital during the fourth quarter valued at about $38,000. Roble Belko & Company Inc bought a new position in shares of Pinnacle West Capital during the fourth quarter valued at about $42,000. Prospera Private Wealth LLC bought a new position in shares of Pinnacle West Capital during the third quarter valued at about $43,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Pinnacle West Capital during the fourth quarter valued at about $46,000. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PNW shares. UBS Group raised their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday. Jefferies Financial Group dropped their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Citigroup raised their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley raised 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 research report on Thursday. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pinnacle West Capital currently has a consensus rating of “Moderate Buy” and an average price target of $95.17.

Pinnacle West Capital Price Performance

PNW opened at $93.67 on Friday. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 3.59 and a beta of 0.53. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $89.46 and a 200-day moving average price of $88.82. Pinnacle West Capital Co. has a twelve month low of $70.73 and a twelve month high of $95.42.

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, topping the consensus estimate of ($0.31) by $0.25. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Equities 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.