Stock On Watch: Pinnacle West Capital Corp (NYSE:PNW) Sentiment Report

November 28, 2016 - By Louis Casey   ·   0 Comments

Stock On Watch: Pinnacle West Capital Corp (NYSE:PNW) Sentiment Report

Sentiment for Pinnacle West Capital Corp (NYSE:PNW)

Pinnacle West Capital Corp (NYSE:PNW) institutional sentiment decreased to 1.04 in Q2 2016. Its down -0.04, from 1.08 in 2016Q1. The ratio is negative, as 183 institutional investors increased or opened new positions, while 170 reduced and sold their positions in Pinnacle West Capital Corp. The institutional investors in our partner’s database now have: 87.94 million shares, down from 92.60 million shares in 2016Q1. Also, the number of institutional investors holding Pinnacle West Capital Corp in their top 10 positions decreased from 3 to 2 for a decrease of 1. Sold All: 27 Reduced: 143 Increased: 136 New Position: 47.

Pinnacle West Capital Corporation is a holding firm that operates primarily through its subsidiaries. The company has a market cap of $8.70 billion. The Firm operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution. It has a 20.02 P/E ratio. 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).

About 343,123 shares traded hands. Pinnacle West Capital Corporation (NYSE:PNW) has risen 5.21% since April 25, 2016 and is uptrending. It has underperformed by 0.81% the S&P500.

Analysts await Pinnacle West Capital Corporation (NYSE:PNW) to report earnings on February, 17. They expect $0.47 EPS, up 27.03% or $0.10 from last year’s $0.37 per share. PNW’s profit will be $53.29 million for 40.81 P/E if the $0.47 EPS becomes a reality. After $2.35 actual EPS reported by Pinnacle West Capital Corporation for the previous quarter, Wall Street now forecasts -80.00% negative EPS growth.

According to Zacks Investment Research, “Pinnacle West Capital is engaged, through its subsidiaries, in the generation, transmission, and distribution of electricity and selling energy, products and services; in real estate development; and in venture capital investment. Its primary subsidiary is Arizona Public Service Company. The company’s other subsidiaries include SunCor, El Dorado, APS Energy Services and Pinnacle West Energy.”

Reaves W H & Co Inc holds 1.75% of its portfolio in Pinnacle West Capital Corporation for 620,454 shares. Ronna Sue Cohen owns 28,227 shares or 1.71% of their US portfolio. Moreover, Electron Capital Partners Llc has 1.51% invested in the company for 75,537 shares. The Illinois-based Perkins Investment Management Llc has invested 1.48% in the stock. Reinhart Partners Inc., a Wisconsin-based fund reported 164,009 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 2 sales for $666,171 net activity.

Pinnacle West Capital Corporation (NYSE:PNW) Ratings Coverage

Ratings analysis reveals 10% of Pinnacle West Capital Corporation’s analysts are positive. Out of 10 Wall Street analysts rating Pinnacle West Capital Corporation, 1 give it “Buy”, 2 “Sell” rating, while 7 recommend “Hold”. The lowest target is $60 while the high is $79. The stock’s average target of $73.43 is -4.30% below today’s ($76.73) share price. PNW was included in 24 notes of analysts from July 21, 2015. The company was upgraded on Tuesday, November 22 by Bank of America. The rating was downgraded by Morgan Stanley on Tuesday, January 12 to “Underweight”. The rating was upgraded by Zacks to “Sell” on Monday, August 17. The company was downgraded on Monday, October 19 by Goldman Sachs. Mizuho maintained Pinnacle West Capital Corporation (NYSE:PNW) rating on Monday, February 8. Mizuho has “Neutral” rating and $70 price target. On Monday, October 19 the stock rating was maintained by SunTrust with “Neutral”. The rating was maintained by RBC Capital Markets with “Sector Perform” on Monday, June 20. Williams Capital Group upgraded it to “Buy” rating and $79 target price in Monday, October 10 report. As per Tuesday, January 12, the company rating was downgraded by Bank of America. On Monday, September 26 the stock rating was maintained by SunTrust with “Neutral”.

PNW Company Profile

Pinnacle West Capital Corporation, incorporated on February 20, 1985, is a holding firm that operates primarily through its subsidiaries. The Firm operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes 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. The Firm owns and leases over 6,200 megawatts (MW) of regulated generation capacity and holds a mix of both long-term and short-term purchased power agreements for additional capacity, including agreements for the purchase of renewable energy. APS has ownership interests in or leases the coal, nuclear, gas, oil and solar generating facilities. APS’s coal-fueled generating facilities include Four Corners, Cholla and Navajo Generating Station. Four Corners is a five-unit coal-fired power plant located in the northwestern corner of New Mexico.

More recent Pinnacle West Capital Corporation (NYSE:PNW) news were published by: Forbes.com which released: “Ex-Dividend Reminder: AES, NRG Energy and Pinnacle West Capital” on October 26, 2016. Also Forbes.com published the news titled: “Pinnacle West Capital Reaches Analyst Target Price” on November 01, 2016. Forbes.com‘s news article titled: “Ex-Dividend Reminder: Pinnacle West Capital, East West Bancorp and LegacyTexas …” with publication date: July 26, 2016 was also an interesting one.

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By Louis Casey


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