Financial Counselors Inc. Sells 1,539 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Financial Counselors Inc. lessened its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,981 shares of the utilities provider’s stock after selling 1,539 shares during the quarter. Financial Counselors Inc. owned 0.18% of Pinnacle West Capital worth $17,800,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PNW. Vanguard Group Inc. raised its holdings in shares of Pinnacle West Capital by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider’s stock worth $1,202,116,000 after acquiring an additional 143,716 shares during the last quarter. State Street Corp raised its stake in shares of Pinnacle West Capital by 0.9% in the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock worth $567,394,000 after purchasing an additional 56,644 shares during the last quarter. Zimmer Partners LP boosted its position 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 buying an additional 155,466 shares during the last quarter. Reaves W H & Co. Inc. grew its holdings 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 worth $117,891,000 after buying an additional 362,083 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Pinnacle West Capital by 0.3% in 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 buying an additional 3,102 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Trading Down 1.7 %

Shares of Pinnacle West Capital stock opened at $91.54 on Wednesday. The stock has a market capitalization of $10.90 billion, a P/E ratio of 17.34, a P/E/G ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a 52-week low of $70.73 and a 52-week high of $95.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The stock’s 50-day simple moving average is $89.83 and its 200 day simple moving average is $88.88.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly 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 company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. As a group, research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of 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. Citigroup lifted 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 report on Wednesday, December 4th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a report on Wednesday, December 4th. Jefferies Financial Group dropped 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. Finally, UBS Group raised their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Pinnacle West Capital currently has an average rating of “Moderate Buy” and a consensus target price of $95.17.

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.