Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its position in Pinnacle West Capital Co. (NYSE:PNW) by 20.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,645 shares of the utilities provider’s stock after selling 4,138 shares during the period. Corient Private Wealth LLC’s holdings in Pinnacle West Capital were worth $1,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. YANKCOM Partnership acquired a new stake in Pinnacle West Capital in the fourth quarter valued at about $29,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $38,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $42,000. Transcendent Capital Group LLC purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $46,000. Finally, Allworth Financial LP grew its holdings in Pinnacle West Capital by 125.9% during the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 365 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. UBS Group boosted their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Six equities research 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. According to data from MarketBeat, Pinnacle West Capital has an average rating of “Moderate Buy” and an average target price of $95.17.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $91.54 on Wednesday. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $95.42. The stock has a market cap of $10.90 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The business’s fifty day moving average price is $89.83 and its two-hundred day moving average price is $88.88. 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 (NYSE:PNW) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS 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%. On average, analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Company Profile

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.