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 decreased its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 215,098 shares of the utilities provider’s stock after selling 836 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Pinnacle West Capital were worth $18,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp raised 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 raised its holdings in shares of Pinnacle West Capital by 5.7% during the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after purchasing an additional 155,466 shares during the last quarter. Reaves W H & Co. Inc. lifted its position in Pinnacle West Capital by 35.2% during the fourth 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 during the period. Charles Schwab Investment Management Inc. boosted its holdings in Pinnacle West Capital by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,031,190 shares of the utilities provider’s stock worth $87,414,000 after purchasing an additional 3,102 shares during the last quarter. Finally, Captrust Financial Advisors grew 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. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.1 %

PNW stock opened at $94.25 on Friday. 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 1-year low of $70.73 and a 1-year high of $95.42. The business has a 50 day simple moving average of $89.22 and a two-hundred day simple moving average of $88.77. The company 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.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share 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 analyst estimates of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PNW shares. Wells Fargo & Company raised their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Jefferies Financial Group decreased their target price 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. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a research note on Wednesday, December 4th. Morgan Stanley boosted their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Citigroup raised their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Five research 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. According to MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Moderate Buy” and an average target price of $94.69.

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.