LPL Financial LLC Lowers Holdings in Pinnacle West Capital Co. (NYSE:PNW)

LPL Financial LLC trimmed its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,850 shares of the utilities provider's stock after selling 4,396 shares during the quarter. LPL Financial LLC owned 0.05% of Pinnacle West Capital worth $5,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNW. Principal Financial Group Inc. increased its holdings in shares of Pinnacle West Capital by 7.7% during the third quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider's stock valued at $12,336,000 after acquiring an additional 9,993 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Pinnacle West Capital by 47.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider's stock valued at $995,000 after purchasing an additional 3,758 shares during the last quarter. Blue Trust Inc. increased its stake in Pinnacle West Capital by 33.3% during the 4th quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider's stock valued at $128,000 after purchasing an additional 360 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Pinnacle West Capital by 14.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider's stock valued at $363,000 after purchasing an additional 545 shares in the last quarter. Finally, MCF Advisors LLC boosted its position in shares of Pinnacle West Capital by 200.6% during the fourth quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider's stock valued at $522,000 after buying an additional 4,107 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Trading Up 1.9 %

Shares of Pinnacle West Capital stock traded up $1.68 during trading on Friday, hitting $91.96. The stock had a trading volume of 1,123,857 shares, compared to its average volume of 1,076,078. The stock has a market cap of $10.95 billion, a PE ratio of 17.42, a PEG ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 12 month low of $70.73 and a 12 month high of $96.50. The firm's fifty day simple moving average is $91.56 and its 200-day simple moving average is $89.16. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. As a group, sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays lifted their price target on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock 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 note on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Morgan Stanley increased their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pinnacle West Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.50.

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.