Pinnacle West Capital Co. (NYSE:PNW) Short Interest Down 27.1% in February

Pinnacle West Capital Co. (NYSE:PNW) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 3,500,000 shares, a decrease of 27.1% from the February 13th total of 4,800,000 shares. Approximately 3.1% of the company’s shares are sold short. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 3.4 days.

Institutional Investors Weigh In On Pinnacle West Capital

A number of institutional investors and hedge funds have recently bought and sold shares of PNW. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the 4th quarter valued at about $29,000. Canada Post Corp Registered Pension Plan acquired a new position in Pinnacle West Capital during the fourth quarter worth approximately $35,000. Venturi Wealth Management LLC boosted its holdings in shares of Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 238 shares during the period. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $38,000. Finally, Roble Belko & Company Inc purchased a new position in shares of Pinnacle West Capital during the fourth quarter worth approximately $42,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PNW. Jefferies Financial Group dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Morgan Stanley reduced 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 report on Friday, November 22nd. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a report on Wednesday, December 4th. Guggenheim reissued a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.28.

Pinnacle West Capital Stock Up 0.5 %

Pinnacle West Capital stock traded up $0.44 during midday trading on Monday, reaching $94.15. The company’s stock had a trading volume of 938,646 shares, compared to its average volume of 978,333. The business has a 50-day simple moving average of $88.58 and a 200-day simple moving average of $88.66. The company has a market cap of $11.21 billion, a P/E ratio of 17.83, a P/E/G ratio of 3.59 and a beta of 0.53. Pinnacle West Capital 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 announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.06 billion. On average, research analysts expect that Pinnacle West Capital will post 5.13 earnings per share 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.