Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 836 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 215,098 shares of the utilities provider’s stock after selling 836 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.19% of Pinnacle West Capital worth $18,234,000 at the end of the most recent reporting period.

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

Pinnacle West Capital Trading Up 0.1 %

Shares of PNW opened at $94.25 on Friday. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $95.42. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 3.59 and a beta of 0.53. The firm’s 50-day moving average price is $89.22 and its 200-day moving average price is $88.77. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Sell-side analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Analyst Upgrades and Downgrades

PNW has been the subject of several analyst reports. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a research report on Monday. Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Jefferies Financial Group decreased their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Citigroup increased their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research note on Wednesday, December 4th. Five equities research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.69.

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.