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

Corient Private Wealth LLC reduced its position in Pinnacle West Capital Co. (NYSE:PNW) by 20.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,645 shares of the utilities provider’s stock after selling 4,138 shares during the quarter. 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 also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Pinnacle West Capital by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock worth $91,078,000 after buying an additional 5,066 shares in the last quarter. Larson Financial Group LLC lifted its stake in Pinnacle West Capital by 285.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,502 shares of the utilities provider’s stock worth $399,000 after purchasing an additional 3,333 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Pinnacle West Capital by 14.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 5,238 shares of the utilities provider’s stock worth $464,000 after purchasing an additional 672 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of Pinnacle West Capital in the third quarter valued at approximately $420,000. Finally, Bank of Montreal Can increased its holdings in shares of Pinnacle West Capital by 21.7% in the third quarter. Bank of Montreal Can now owns 247,548 shares of the utilities provider’s stock valued at $21,851,000 after purchasing an additional 44,158 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $91.54 on Wednesday. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 3.59 and a beta of 0.53. The firm’s fifty day simple moving average is $89.83 and its 200-day simple moving average is $88.88. 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 Co. has a 12 month low of $70.73 and a 12 month high of $95.42.

Pinnacle West Capital (NYSE:PNW) last announced 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 net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. As a group, equities analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on PNW shares. Jefferies Financial Group reduced their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. UBS Group lifted their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, March 21st. 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. 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 report on Wednesday, December 4th. 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 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 stock. According to data from MarketBeat.com, Pinnacle West Capital currently has an average rating of “Moderate Buy” and an average target price of $95.17.

Pinnacle West Capital 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.