Excalibur Management Corp Lowers Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Excalibur Management Corp reduced its stake in Pinnacle West Capital Co. (NYSE:PNW) by 1.6% during the 4th quarter, HoldingsChannel reports. The firm owned 14,481 shares of the utilities provider’s stock after selling 237 shares during the period. Excalibur Management Corp’s holdings in Pinnacle West Capital were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. YANKCOM Partnership purchased a new position in shares of Pinnacle West Capital in the fourth quarter valued at $29,000. Brown Lisle Cummings Inc. acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $38,000. Roble Belko & Company Inc purchased a new stake in Pinnacle West Capital during the fourth quarter worth approximately $42,000. Transcendent Capital Group LLC acquired a new stake in Pinnacle West Capital in the 4th quarter valued at $46,000. Finally, Allworth Financial LP raised its holdings in shares of Pinnacle West Capital by 125.9% during the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock valued at $56,000 after buying an additional 365 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $91.54 on Wednesday. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $95.42. The firm has a 50 day simple moving average of $89.83 and a 200 day simple moving average of $88.88. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.06 billion. Research analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research note on Wednesday, December 4th. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Guggenheim restated a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. UBS Group raised their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company upped their price objective on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pinnacle West Capital presently 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.