Prudential Financial Inc. decreased its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 19.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,969 shares of the utilities provider's stock after selling 15,161 shares during the quarter. Prudential Financial Inc. owned 0.05% of Pinnacle West Capital worth $5,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. YANKCOM Partnership purchased a new position in shares of Pinnacle West Capital during the fourth quarter worth approximately $29,000. Brown Lisle Cummings Inc. purchased a new position in Pinnacle West Capital in the 4th quarter worth $38,000. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital in the fourth quarter worth $42,000. Transcendent Capital Group LLC bought a new stake in Pinnacle West Capital in the fourth quarter worth $46,000. Finally, Allworth Financial LP boosted its position in Pinnacle West Capital by 125.9% during the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock valued at $56,000 after buying an additional 365 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.
Analyst Ratings Changes
PNW has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. KeyCorp raised Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Barclays raised their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a report on Tuesday. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "strong-buy" rating in a report on Monday, March 17th. Finally, Guggenheim reaffirmed a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Pinnacle West Capital currently has an average rating of "Moderate Buy" and a consensus price target of $95.50.
Check Out Our Latest Research Report on PNW
Pinnacle West Capital Trading Down 0.4 %
Shares of NYSE PNW traded down $0.37 during midday trading on Thursday, hitting $95.06. 1,073,578 shares of the company traded hands, compared to its average volume of 1,059,306. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $96.50. The stock has a 50-day moving average price of $90.79 and a 200 day moving average price of $89.08. The firm has a market cap of $11.32 billion, a P/E ratio of 18.00, a P/E/G ratio of 3.59 and a beta of 0.53.
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, topping 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 firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. As a group, analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.
Pinnacle West Capital Company Profile
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Free Report)
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.
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