Wedge Capital Management L L Pnc Lowers stake in Pinnacle West Capital Corporation (PNW)

Pinnacle West Capital Corporation (PNW) : Wedge Capital Management L L Pnc reduced its stake in Pinnacle West Capital Corporation by 10.09% during the most recent quarter end. The investment management company now holds a total of 2,221,826 shares of Pinnacle West Capital Corporation which is valued at $162,148,861 after selling 249,277 shares in Pinnacle West Capital Corporation , the firm said in a disclosure report filed with the SEC on May 2, 2016.Pinnacle West Capital Corporation makes up approximately 1.67% of Wedge Capital Management L L Pnc’s portfolio.

Pinnacle West Capital Corporation closed down -0.24 points or -0.33% at $72.98 with 7,13,638 shares getting traded on Friday. Post opening the session at $73.15, the shares hit an intraday low of $72.21 and an intraday high of $73.15 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Tokio Marine Asset Management Co Ltd reduced its stake in PNW by selling 398 shares or 7.86% in the most recent quarter. The Hedge Fund company now holds 4,667 shares of PNW which is valued at $340,598. Pinnacle West Capital Corporation makes up approx 0.03% of Tokio Marine Asset Management Co Ltd’s portfolio.Id Management As reduced its stake in PNW by selling 4,705 shares or 52.28% in the most recent quarter. The Hedge Fund company now holds 4,295 shares of PNW which is valued at $312,032. Pinnacle West Capital Corporation makes up approx 0.10% of Id Management As’s portfolio.Glenmede Trust Co Na boosted its stake in PNW in the latest quarter, The investment management firm added 35 additional shares and now holds a total of 19,710 shares of Pinnacle West Capital Corporation which is valued at $1,431,932. Pinnacle West Capital Corporation makes up approx 0.01% of Glenmede Trust Co Na’s portfolio.James Investment Research Inc boosted its stake in PNW in the latest quarter, The investment management firm added 177,652 additional shares and now holds a total of 238,442 shares of Pinnacle West Capital Corporation which is valued at $17,322,811. Pinnacle West Capital Corporation makes up approx 0.43% of James Investment Research Inc’s portfolio.Winslow Evans Crocker reduced its stake in PNW by selling 1 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 875 shares of PNW which is valued at $62,528. Pinnacle West Capital Corporation makes up approx 0.02% of Winslow Evans Crocker’s portfolio.

On the company’s financial health, Pinnacle West Capital Corporation reported $0.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Apr 29, 2016. Analyst had a consensus of $0.12. The company had revenue of $677.20 million for the quarter, compared to analysts expectations of $695.02 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 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 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.

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