Lnz Capital Lp adds Pinnacle West Capital Corporation (PNW) to its portfolio

Pinnacle West Capital Corporation (PNW) : Lnz Capital Lp added new position in Pinnacle West Capital Corporation during the most recent quarter end. The investment management firm now holds 528,910 shares of Pinnacle West Capital Corporation which is valued at $41,212,667 , the company said in a statement filed on Aug 15, 2016 with the SEC.Pinnacle West Capital Corporation makes up approximately 6.95% of Lnz Capital Lp’s portfolio.

Other Hedge Funds, Including , Castleton Investment Management reduced its stake in PNW by selling 132,867 shares or 72.05% in the most recent quarter. The Hedge Fund company now holds 51,536 shares of PNW which is valued at $4,015,685. Pinnacle West Capital Corporation makes up approx 1.98% of Castleton Investment Management’s portfolio. Nuveen Fund Advisors added PNW to its portfolio by purchasing 11,768 company shares during the most recent quarter which is valued at $916,963. Pinnacle West Capital Corporation makes up approx 0.14% of Nuveen Fund Advisors’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in PNW by selling 6,460 shares or 0.21% in the most recent quarter. The Hedge Fund company now holds 3,042,991 shares of PNW which is valued at $237,109,859. Pinnacle West Capital Corporation makes up approx 0.04% of Blackrock Institutional Trust Company N.a.’s portfolio.Shinko Asset Management Ltd. reduced its stake in PNW by selling 1,300 shares or 30.3% in the most recent quarter. The Hedge Fund company now holds 2,990 shares of PNW which is valued at $240,964.

Pinnacle West Capital Corporation closed down -0.23 points or -0.31% at $74.81 with 4,82,227 shares getting traded on Thursday. Post opening the session at $74.91, the shares hit an intraday low of $74.58 and an intraday high of $75.34 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. 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 .Company shares were Reiterated by RBC Capital Mkts on Jun 20, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 73 from a previous price target of $69 .

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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