Guggenheim Capital LLC Trims Position in Pinnacle West Capital Co. (NYSE:PNW)

Guggenheim Capital LLC lessened its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 86.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,095 shares of the utilities provider's stock after selling 188,260 shares during the period. Guggenheim Capital LLC's holdings in Pinnacle West Capital were worth $2,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mesirow Financial Investment Management Inc. boosted its stake in shares of Pinnacle West Capital by 0.9% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider's stock valued at $1,163,000 after purchasing an additional 116 shares in the last quarter. Fortem Financial Group LLC lifted its holdings in Pinnacle West Capital by 2.2% during the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider's stock valued at $485,000 after purchasing an additional 124 shares during the last quarter. New York Life Investment Management LLC boosted its position in Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock valued at $1,264,000 after buying an additional 127 shares in the last quarter. Global Retirement Partners LLC grew its stake in Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock worth $135,000 after buying an additional 156 shares during the last quarter. Finally, 1620 Investment Advisors Inc. increased its holdings in shares of Pinnacle West Capital by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider's stock worth $397,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

Shares of PNW stock traded down $0.60 during trading hours on Wednesday, reaching $94.41. The company's stock had a trading volume of 1,859,815 shares, compared to its average volume of 1,094,219. Pinnacle West Capital Co. has a fifty-two week low of $72.78 and a fifty-two week high of $96.50. The firm's 50 day simple moving average is $92.36 and its 200-day simple moving average is $89.39. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $11.26 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 3.59 and a beta of 0.42.

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

Wall Street Analysts Forecast Growth

PNW has been the topic of several research analyst reports. Morgan Stanley increased their price target 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. Wells Fargo & Company boosted their target price on 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. UBS Group raised their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Guggenheim reissued a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Finally, Jefferies Financial Group cut their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.