Pensionfund Sabic buys $1.5 Million stake in Pinnacle West Capital Corporation (PNW)

Pinnacle West Capital Corporation (PNW) : Pensionfund Sabic scooped up 3,000 additional shares in Pinnacle West Capital Corporation during the most recent quarter end , according to a recent disclosure to the SEC on Apr 4, 2016. The investment management firm now holds a total of 20,000 shares of Pinnacle West Capital Corporation which is valued at $1.5 Million.Pinnacle West Capital Corporation makes up approximately 0.45% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Pensionfund Dsm Netherlands boosted its stake in PNW in the latest quarter, The investment management firm added 9,000 additional shares and now holds a total of 44,000 shares of Pinnacle West Capital Corporation which is valued at $3.3 Million. Pinnacle West Capital Corporation makes up approx 0.44% of Pensionfund Dsm Netherlands’s portfolio.

On the company’s financial health, Pinnacle West Capital Corporation reported $0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Feb 19, 2016. Analyst had a consensus of $0.26. The company had revenue of $734.43 million for the quarter, compared to analysts expectations of $757.76 million. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

Many Wall Street Analysts have commented on Pinnacle West Capital Corporation. Company shares were Reiterated by RBC Capital Mkts on Feb 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 69 from a previous price target of $68 .Company shares were Reiterated by Mizuho on Feb 8, 2016 to “Neutral”, Firm has raised the Price Target to $ 70 from a previous price target of $60 .Pinnacle West Capital Corporation was Downgraded by Morgan Stanley to ” Underweight” on Jan 12, 2016.

Pinnacle West Capital Corporation closed down -0.26 points or -0.35% at $74.1 with 6,71,728 shares getting traded on Monday. Post opening the session at $74.45, the shares hit an intraday low of $73.91 and an intraday high of $74.8 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Pinnacle West Capital Corporation is a holding company that operates primarily through its wholly owned subsidiaries is engaged in regulated retail and wholesale electricity businesses. The Company’s operations primarily include electricity generation transmission and distribution. The Company’s subsidiaries include Arizona Public Service Company (APS) a vertically integrated electric utility that provides either retail or wholesale electric service to the State of Arizona with the exceptions of about one-half of the Phoenix metropolitan area the Tucson metropolitan area and Mohave County in northwestern Arizona; El Dorado Investment Company (El Dorado) and Bright Canyon Energy Corporation (BCE). APS provides electric service to approximately 1.2 million customers. APS has ownership interests in or leases the coal nuclear gas oil and solar generating facilities.

Leave a Reply

Pinnacle West Capital Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Pinnacle West Capital Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.