Envestnet Asset Management Inc. Has $8.27 Million Position in Pinnacle West Capital Co. (NYSE:PNW)

Envestnet Asset Management Inc. decreased its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,503 shares of the utilities provider's stock after selling 37,802 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of Pinnacle West Capital worth $8,265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PNW. MML Investors Services LLC raised its stake in Pinnacle West Capital by 5.5% during the 3rd quarter. MML Investors Services LLC now owns 6,434 shares of the utilities provider's stock worth $570,000 after buying an additional 334 shares during the period. Barclays PLC raised its position in shares of Pinnacle West Capital by 7.6% during the third quarter. Barclays PLC now owns 203,363 shares of the utilities provider's stock worth $18,014,000 after purchasing an additional 14,392 shares during the period. Virtu Financial LLC bought a new position in shares of Pinnacle West Capital during the 3rd quarter valued at about $882,000. Sanctuary Advisors LLC grew its position in shares of Pinnacle West Capital by 61.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,151 shares of the utilities provider's stock valued at $757,000 after purchasing an additional 3,104 shares during the period. Finally, Tidal Investments LLC increased its stake in Pinnacle West Capital by 7.6% during the 3rd quarter. Tidal Investments LLC now owns 2,881 shares of the utilities provider's stock worth $255,000 after purchasing an additional 203 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PNW shares. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Guggenheim reaffirmed a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Morgan Stanley lifted their price target on Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Jefferies Financial Group reduced their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Finally, UBS Group lifted their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $95.50.

Pinnacle West Capital Stock Down 1.4 %

Shares of Pinnacle West Capital stock traded down $1.38 on Wednesday, reaching $93.64. 563,861 shares of the company were exchanged, compared to its average volume of 1,089,224. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 3.59 and a beta of 0.42. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a one year low of $72.78 and a one year high of $96.50. The company has a 50-day moving average of $92.36 and a 200 day moving average of $89.39.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. On average, equities research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.