Corient Private Wealth LLC Decreases Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Corient Private Wealth LLC trimmed its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 20.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,645 shares of the utilities provider's stock after selling 4,138 shares during the quarter. Corient Private Wealth LLC's holdings in Pinnacle West Capital were worth $1,326,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in shares of Pinnacle West Capital by 0.9% in the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider's stock worth $567,394,000 after acquiring an additional 56,644 shares during the period. Zimmer Partners LP increased its position in shares of Pinnacle West Capital by 5.7% during the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider's stock valued at $256,882,000 after purchasing an additional 155,466 shares during the last quarter. Reaves W H & Co. Inc. raised its holdings in Pinnacle West Capital by 35.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider's stock valued at $117,891,000 after buying an additional 362,083 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Pinnacle West Capital by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,031,190 shares of the utilities provider's stock worth $87,414,000 after buying an additional 3,102 shares during the period. Finally, Captrust Financial Advisors boosted its stake in Pinnacle West Capital by 1.6% during the third quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider's stock worth $64,851,000 after buying an additional 11,208 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Remove Ads

Pinnacle West Capital Stock Up 1.3 %

Shares of Pinnacle West Capital stock traded up $1.21 during trading on Friday, hitting $94.23. 1,537,012 shares of the stock traded hands, compared to its average volume of 1,059,649. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The firm has a market cap of $11.22 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The stock's fifty day simple moving average is $90.28 and its 200 day simple moving average is $88.96. Pinnacle West Capital Co. has a 52-week low of $70.73 and a 52-week high of $95.42.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) 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. On average, equities analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PNW. Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. UBS Group upped their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. KeyCorp raised Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target for the company in a research note on Wednesday, December 4th. Guggenheim reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "strong-buy" rating in a research report on Monday, March 17th. 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, Pinnacle West Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.17.

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.