Xponance Inc. Lowers Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Xponance Inc. lowered its stake in Pinnacle West Capital Co. (NYSE:PNW) by 8.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,437 shares of the utilities provider’s stock after selling 849 shares during the period. Xponance Inc.’s holdings in Pinnacle West Capital were worth $800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNW. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $29,000. Brown Lisle Cummings Inc. purchased a new stake in Pinnacle West Capital during the 4th quarter valued at about $38,000. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital during the 4th quarter valued at about $42,000. Transcendent Capital Group LLC purchased a new position in Pinnacle West Capital in the fourth quarter worth about $46,000. Finally, Allworth Financial LP lifted its stake in shares of Pinnacle West Capital by 125.9% in the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock worth $56,000 after buying an additional 365 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of recent analyst reports. 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. Citigroup upped their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. Wells Fargo & Company lifted their price target 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. Finally, KeyCorp upgraded 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. Six investment 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.17.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $93.01 on Tuesday. The company has a market capitalization of $11.08 billion, a PE ratio of 17.62, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a 50-day simple moving average of $89.67 and a two-hundred day simple moving average of $88.85. Pinnacle West Capital Co. has a one year low of $70.73 and a one year 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.

Pinnacle West Capital (NYSE:PNW) last posted its 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. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal 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.