Teachers Retirement System of The State of Kentucky Reduces Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Teachers Retirement System of The State of Kentucky trimmed its stake in Pinnacle West Capital Co. (NYSE:PNW) by 5.4% in the 4th quarter, HoldingsChannel reports. The firm owned 90,736 shares of the utilities provider’s stock after selling 5,141 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Pinnacle West Capital were worth $7,255,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Inspire Advisors LLC purchased a new stake in shares of Pinnacle West Capital in the 4th quarter worth about $33,000. Vantage Consulting Group Inc purchased a new stake in shares of Pinnacle West Capital in the 4th quarter worth about $40,000. Princeton Global Asset Management LLC lifted its position in shares of Pinnacle West Capital by 59.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 559 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 209 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Pinnacle West Capital in the 4th quarter worth about $57,000. Finally, Samalin Investment Counsel LLC purchased a new stake in shares of Pinnacle West Capital in the 4th quarter worth about $128,000. 82.78% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on PNW shares. TheStreet cut shares of Pinnacle West Capital from a “b” rating to a “c+” rating in a research report on Tuesday, March 16th. Morgan Stanley increased their price target on shares of 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. Siebert Williams Shank upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and decreased their price target for the stock from $97.00 to $92.00 in a research note on Monday, March 1st. The Goldman Sachs Group decreased their price target on shares of 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. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $81.00 price target (down from $86.00) on shares of Pinnacle West Capital in a research note on Wednesday, March 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $86.11.

NYSE:PNW opened at $82.26 on Thursday. The firm has a market cap of $9.27 billion, a P/E ratio of 14.64, a P/E/G ratio of 4.47 and a beta of 0.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.90 and a current ratio of 1.17. Pinnacle West Capital Co. has a fifty-two week low of $69.29 and a fifty-two week high of $91.88. The firm has a 50-day simple moving average of $77.84 and a two-hundred day simple moving average of $79.55.

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

Pinnacle West Capital Profile

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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