Financial Counselors Inc. Lowers Position in Pinnacle West Capital Co. (NYSE:PNW)

Financial Counselors Inc. decreased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 209,981 shares of the utilities provider’s stock after selling 1,539 shares during the period. Financial Counselors Inc.’s holdings in Pinnacle West Capital were worth $17,800,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PNW. YANKCOM Partnership purchased a new position in Pinnacle West Capital in the 4th quarter worth approximately $29,000. Brown Lisle Cummings Inc. purchased a new position in Pinnacle West Capital in the fourth quarter worth $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital in the fourth quarter valued at $42,000. Transcendent Capital Group LLC purchased a new stake in Pinnacle West Capital during the fourth quarter valued at about $46,000. Finally, Allworth Financial LP lifted its stake in Pinnacle West Capital by 125.9% during the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 365 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PNW has been the topic of several recent research reports. KeyCorp upgraded 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 report on Wednesday, December 4th. Citigroup increased their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. UBS Group boosted their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Guggenheim reaffirmed a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Finally, Morgan Stanley boosted their price target on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.17.

Pinnacle West Capital Stock Down 1.7 %

Shares of Pinnacle West Capital stock opened at $91.54 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $95.42. The company’s fifty day simple moving average is $89.83 and its two-hundred day simple moving average is $88.88. The company has a market cap of $10.90 billion, a P/E ratio of 17.34, a PEG ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

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.