Viawealth LLC Reduces Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Viawealth LLC cut its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 7.7% in the fourth quarter, HoldingsChannel reports. The firm owned 10,438 shares of the utilities provider’s stock after selling 873 shares during the period. Viawealth LLC’s holdings in Pinnacle West Capital were worth $885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PNW. Assenagon Asset Management S.A. boosted its position in Pinnacle West Capital by 221.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock worth $57,413,000 after purchasing an additional 466,736 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Pinnacle West Capital in the fourth quarter worth about $32,078,000. Reaves W H & Co. Inc. increased 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. Yaupon Capital Management LP acquired a new stake in Pinnacle West Capital in the third quarter valued at approximately $22,173,000. Finally, Zimmer Partners LP increased its position in shares of Pinnacle West Capital by 5.7% in the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after buying an additional 155,466 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Up 0.9 %

PNW stock opened at $94.23 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average of $89.00 and a two-hundred day moving average of $88.74. Pinnacle West Capital Co. has a 12 month low of $70.73 and a 12 month high of $95.42. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate 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%. As a group, analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PNW has been the topic of a number of recent analyst reports. KeyCorp upgraded 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 report on Wednesday, December 4th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a research report on Monday. Wells Fargo & Company upped their price target 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. Citigroup lifted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Guggenheim reissued a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.81.

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.