Metropolitan Life Insurance Co. NY Has $1.47 Million Holdings in Pinnacle West Capital Co. (PNW)

Metropolitan Life Insurance Co. NY decreased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 67.4% in the fourth quarter, HoldingsChannel reports. The firm owned 17,289 shares of the utilities provider’s stock after selling 35,699 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Pinnacle West Capital were worth $1,473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of Pinnacle West Capital by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 274,348 shares of the utilities provider’s stock valued at $23,200,000 after purchasing an additional 686 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Pinnacle West Capital by 3.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 21,440 shares of the utilities provider’s stock valued at $1,826,000 after purchasing an additional 708 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Pinnacle West Capital by 9.5% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,078 shares of the utilities provider’s stock valued at $768,000 after purchasing an additional 790 shares in the last quarter. Creative Planning increased its stake in shares of Pinnacle West Capital by 7.6% during the fourth quarter. Creative Planning now owns 12,691 shares of the utilities provider’s stock valued at $1,081,000 after purchasing an additional 896 shares in the last quarter. Finally, ING Groep NV increased its stake in shares of Pinnacle West Capital by 10.1% during the fourth quarter. ING Groep NV now owns 10,623 shares of the utilities provider’s stock valued at $905,000 after purchasing an additional 976 shares in the last quarter. 82.64% of the stock is owned by institutional investors and hedge funds.

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In related news, Chairman Donald E. Brandt sold 24,216 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now owns 94,358 shares in the company, valued at $7,474,097.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald E. Brandt sold 39,083 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $77.23, for a total transaction of $3,018,380.09. Following the completion of the sale, the chief executive officer now owns 88,741 shares in the company, valued at approximately $6,853,467.43. The disclosure for this sale can be found here. Insiders sold 68,110 shares of company stock worth $5,300,760 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Shares of NYSE:PNW opened at $79.80 on Friday. The company has a market cap of $8,921.62, a P/E ratio of 18.34, a PEG ratio of 6.03 and a beta of 0.31. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. Pinnacle West Capital Co. has a twelve month low of $73.81 and a twelve month high of $92.48.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.09. The company had revenue of $759.65 million during the quarter, compared to the consensus estimate of $773.12 million. Pinnacle West Capital had a net margin of 13.70% and a return on equity of 9.59%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share. sell-side analysts anticipate that Pinnacle West Capital Co. will post 4.46 EPS for the current fiscal year.

A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Thursday. SunTrust Banks set a $81.00 target price on shares of Pinnacle West Capital and gave the company a “hold” rating in a research note on Monday, March 26th. Morgan Stanley set a $80.00 target price on shares of Pinnacle West Capital and gave the company a “hold” rating in a research note on Thursday, March 8th. Royal Bank of Canada raised shares of Pinnacle West Capital from a “sector perform” rating to an “outperform” rating in a research report on Thursday, March 8th. Finally, Bank of America set a $81.00 price target on shares of Pinnacle West Capital and gave the company a “sell” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $84.27.

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

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