Gabelli Funds LLC Sells 2,800 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Gabelli Funds LLC reduced its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 333,800 shares of the utilities provider's stock after selling 2,800 shares during the period. Gabelli Funds LLC owned 0.29% of Pinnacle West Capital worth $28,296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Pinnacle West Capital by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock valued at $1,202,116,000 after acquiring an additional 143,716 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Pinnacle West Capital by 0.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock valued at $581,945,000 after purchasing an additional 37,768 shares in the last quarter. Invesco Ltd. grew its stake in Pinnacle West Capital by 32.2% during the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock worth $364,342,000 after purchasing an additional 1,045,788 shares during the period. Geode Capital Management LLC increased its holdings in Pinnacle West Capital by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider's stock worth $243,897,000 after purchasing an additional 204,805 shares in the last quarter. Finally, Norges Bank acquired a new position in Pinnacle West Capital in the fourth quarter valued at approximately $194,655,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Down 0.7 %

PNW traded down $0.63 during midday trading on Monday, reaching $93.82. 118,798 shares of the company were exchanged, compared to its average volume of 1,080,491. Pinnacle West Capital Co. has a one year low of $72.78 and a one year high of $96.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The company's fifty day moving average price is $92.16 and its 200 day moving average price is $89.32. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. As a group, analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

PNW has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on shares of 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. Barclays lifted their price target on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 1st. Wells Fargo & Company increased their price objective on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Jefferies Financial Group decreased their target price 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 upped their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital has a consensus rating of "Moderate Buy" and a consensus target price of $95.50.

Pinnacle West Capital Company 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.