Skba Capital Management LLC Sells 5,000 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Skba Capital Management LLC trimmed its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,910 shares of the utilities provider's stock after selling 5,000 shares during the period. Pinnacle West Capital comprises about 2.2% of Skba Capital Management LLC's holdings, making the stock its 12th largest position. Skba Capital Management LLC owned approximately 0.14% of Pinnacle West Capital worth $13,725,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PNW. Daiwa Securities Group Inc. grew its holdings in Pinnacle West Capital by 14.7% during the third quarter. Daiwa Securities Group Inc. now owns 5,238 shares of the utilities provider's stock worth $464,000 after buying an additional 672 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Pinnacle West Capital by 73.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 200,755 shares of the utilities provider's stock worth $17,785,000 after acquiring an additional 84,887 shares during the last quarter. Glenmede Trust Co. NA grew its stake in shares of Pinnacle West Capital by 2.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider's stock worth $593,000 after acquiring an additional 163 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Pinnacle West Capital by 7.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,139 shares of the utilities provider's stock valued at $2,138,000 after purchasing an additional 1,733 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Pinnacle West Capital by 2.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,803 shares of the utilities provider's stock worth $1,754,000 after buying an additional 500 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

PNW has been the subject of several recent analyst reports. KeyCorp raised Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 target price for the company in a report on Wednesday, December 4th. Guggenheim reaffirmed a "buy" rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Citigroup boosted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. 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 report on Thursday, March 20th. Finally, Wells Fargo & Company lifted 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. Six research 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, the company has a consensus rating of "Moderate Buy" and an average target price of $95.50.

Pinnacle West Capital Stock Performance

NYSE:PNW traded up $0.19 on Wednesday, reaching $95.47. 664,740 shares of the company's stock were exchanged, compared to its average volume of 1,058,092. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The stock has a fifty day simple moving average of $90.60 and a 200-day simple moving average of $89.04. Pinnacle West Capital Co. has a 52 week low of $70.73 and a 52 week high of $96.25.

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

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.