Avantax Advisory Services Inc. Trims Position in Pinnacle West Capital Co. (NYSE:PNW)

Avantax Advisory Services Inc. cut its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 3.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 14,991 shares of the utilities provider’s stock after selling 490 shares during the period. Avantax Advisory Services Inc.’s holdings in Pinnacle West Capital were worth $1,271,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. State Street Corp increased its stake in 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 valued at $567,394,000 after purchasing an additional 56,644 shares during the last quarter. Zimmer Partners LP grew its holdings in Pinnacle West Capital by 5.7% in the 3rd 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 period. Reaves W H & Co. Inc. lifted its holdings in shares of Pinnacle West Capital by 35.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider’s stock worth $117,891,000 after acquiring an additional 362,083 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of 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 acquiring an additional 3,102 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in Pinnacle West Capital by 1.6% in the third quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider’s stock valued at $64,851,000 after purchasing an additional 11,208 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Citigroup boosted their price target 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. Guggenheim restated a “buy” rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. KeyCorp upgraded 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. Finally, Wells Fargo & Company raised their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $93.81.

Pinnacle West Capital Stock Down 1.0 %

NYSE PNW opened at $93.33 on Wednesday. The stock has a market cap of $11.12 billion, a PE ratio of 17.68, a P/E/G ratio of 3.59 and a beta of 0.53. The business has a 50 day moving average price of $88.79 and a two-hundred day moving average price of $88.70. Pinnacle West Capital Co. has a fifty-two week low of $70.73 and a fifty-two week high of $95.42. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share 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 business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. As a group, sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

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.