Morgens Waterfall Vintiadis Co Inc Exits Position in Pinnacle West Capital Corporation (PNW)

Pinnacle West Capital Corporation (PNW) : Morgens Waterfall Vintiadis Co Inc has sold out all of its stake in Pinnacle West Capital Corporation during the most recent quarter, according to the disclosure filed by the company on Oct 12, 2016 with the SEC. The investment management company has sold out 6,300 shares of Pinnacle West Capital Corporation which is valued at $459,270.

Other Hedge Funds, Including , Centurylink Investment Management Co reduced its stake in PNW by selling 141 shares or 0.7% in the most recent quarter. The Hedge Fund company now holds 19,897 shares of PNW which is valued at $1,450,491. Pinnacle West Capital Corporation makes up approx 0.50% of Centurylink Investment Management Co’s portfolio.Naples Global Advisors reduced its stake in PNW by selling 50 shares or 0.65% in the most recent quarter. The Hedge Fund company now holds 7,675 shares of PNW which is valued at $566,262. Pinnacle West Capital Corporation makes up approx 0.22% of Naples Global Advisors’s portfolio.Gradient Investments boosted its stake in PNW in the latest quarter, The investment management firm added 3 additional shares and now holds a total of 437 shares of Pinnacle West Capital Corporation which is valued at $32,242.Ronna Sue Cohen reduced its stake in PNW by selling 136 shares or 0.48% in the most recent quarter. The Hedge Fund company now holds 28,091 shares of PNW which is valued at $2,072,554. Pinnacle West Capital Corporation makes up approx 1.57% of Ronna Sue Cohen’s portfolio. Cutler Group Lp sold out all of its stake in PNW during the most recent quarter. The investment firm sold 751 shares of PNW which is valued $55,409.

Pinnacle West Capital Corporation closed down -0.88 points or -1.19% at $72.9 with 6,06,472 shares getting traded on Tuesday. Post opening the session at $73.53, the shares hit an intraday low of $72.84 and an intraday high of $73.63 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Pinnacle West Capital Corporation reported $1.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $1.14. The company had revenue of $915.39 million for the quarter, compared to analysts expectations of $910.66 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS.

Many Wall Street Analysts have commented on Pinnacle West Capital Corporation. Williams Capital Group Upgraded Pinnacle West Capital Corporation on Oct 10, 2016 to ” Buy”, Price Target of the shares are set at $79.Company shares were Reiterated by Williams Capital Group on Aug 30, 2016 to “Hold”, Firm has raised the Price Target to $ 79 from a previous price target of $58 .Company shares were Reiterated by Mizuho on Aug 3, 2016 to “Neutral”, Firm has raised the Price Target to $ 78 from a previous price target of $70 .

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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