Pinnacle West Capital Co. (NYSE:PNW) Stake Lessened by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. reduced its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 3.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,991 shares of the utilities provider’s stock after selling 490 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Pinnacle West Capital were worth $1,271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. YANKCOM Partnership acquired a new position in Pinnacle West Capital in the fourth quarter worth about $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital during the fourth quarter worth $42,000. Prospera Private Wealth LLC acquired a new position in Pinnacle West Capital in the third quarter worth $43,000. Finally, Transcendent Capital Group LLC bought a new stake in Pinnacle West Capital during the fourth quarter valued at $46,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Down 1.0 %

NYSE:PNW opened at $93.33 on Wednesday. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 3.59 and a beta of 0.53. 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 1 year low of $70.73 and a 1 year high of $95.42. The business has a fifty day moving average of $88.79 and a 200-day moving average of $88.70.

Pinnacle West Capital (NYSE:PNW) last released its 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 for the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Equities analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PNW shares. KeyCorp upgraded shares of 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 report on Wednesday, December 4th. Morgan Stanley decreased their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Wells Fargo & Company increased their price target on 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 boosted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $93.81.

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.