EntryPoint Capital LLC Takes Position in Pinnacle West Capital Co. (NYSE:PNW)

EntryPoint Capital LLC purchased a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 6,419 shares of the utilities provider’s stock, valued at approximately $544,000.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Pinnacle West Capital by 221.7% during the fourth 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 during the period. Jennison Associates LLC purchased a new stake in Pinnacle West Capital in the 4th quarter worth approximately $32,078,000. Reaves W H & Co. Inc. boosted its stake in shares of Pinnacle West Capital by 35.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider’s stock valued at $117,891,000 after buying an additional 362,083 shares during the period. Yaupon Capital Management LP purchased a new position in shares of Pinnacle West Capital during the 3rd quarter valued at $22,173,000. Finally, Zimmer Partners LP increased its stake in shares of Pinnacle West Capital by 5.7% in the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after acquiring an additional 155,466 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNW. Citigroup lifted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. UBS Group lifted their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company increased their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Jefferies Financial Group cut their price objective 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. Finally, Guggenheim reissued a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital has a consensus rating of “Moderate Buy” and an average target price of $95.17.

Pinnacle West Capital Trading Down 0.8 %

Shares of PNW stock opened at $93.01 on Tuesday. 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 business’s 50 day moving average is $89.67 and its two-hundred day moving average is $88.85. The company has a market cap of $11.08 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a 12 month low of $70.73 and a 12 month high of $95.42.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Equities analysts predict 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.