Prudential Financial Inc. Has $5.47 Million Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Prudential Financial Inc. decreased its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,969 shares of the utilities provider’s stock after selling 15,161 shares during the quarter. Prudential Financial Inc.’s holdings in Pinnacle West Capital were worth $5,465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PNW. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at about $29,000. Brown Lisle Cummings Inc. bought a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $38,000. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $42,000. Transcendent Capital Group LLC bought a new position in Pinnacle West Capital during the 4th quarter worth approximately $46,000. Finally, Allworth Financial LP lifted its position in shares of Pinnacle West Capital by 125.9% in the 4th 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 period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. UBS Group increased their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Wells Fargo & Company upped their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley lifted their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.17.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $95.28 on Tuesday. The business has a 50-day simple moving average of $90.45 and a 200 day simple moving average of $89.01. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 3.59 and a beta of 0.53. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $95.83.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. On average, research analysts anticipate that Pinnacle West Capital Co. 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.