Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by Channing Capital Management LLC

Channing Capital Management LLC lifted its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 23.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 123,081 shares of the utilities provider's stock after buying an additional 23,605 shares during the quarter. Channing Capital Management LLC owned approximately 0.11% of Pinnacle West Capital worth $10,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PNW. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth approximately $29,000. Venturi Wealth Management LLC raised its holdings in shares of Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider's stock worth $38,000 after buying an additional 238 shares during the period. Brown Lisle Cummings Inc. purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth approximately $38,000. Roble Belko & Company Inc purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth approximately $42,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital in the third quarter worth approximately $43,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Up 0.7 %

Shares of Pinnacle West Capital stock traded up $0.62 during trading on Thursday, reaching $91.85. The company's stock had a trading volume of 917,746 shares, compared to its average volume of 988,588. 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 cap of $10.94 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a 1-year low of $69.50 and a 1-year high of $95.42. The company has a 50-day simple moving average of $88.17 and a two-hundred day simple moving average of $88.53.

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

Analyst Upgrades and Downgrades

PNW has been the topic of several recent analyst reports. Jefferies Financial Group reduced their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Barclays downgraded Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Morgan Stanley reduced their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company raised their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Finally, KeyCorp upgraded Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price objective on the stock in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $92.28.

About Pinnacle West Capital

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.