Excalibur Management Corp Sells 237 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Excalibur Management Corp decreased its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,481 shares of the utilities provider’s stock after selling 237 shares during the quarter. Excalibur Management Corp’s holdings in Pinnacle West Capital were worth $1,228,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital during the fourth quarter valued at about $29,000. Brown Lisle Cummings Inc. bought a new stake in Pinnacle West Capital during the fourth quarter worth $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital during the fourth quarter valued at about $42,000. Transcendent Capital Group LLC purchased a new stake in shares of 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% 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 last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Trading Down 1.7 %

NYSE PNW opened at $91.54 on Wednesday. Pinnacle West Capital Co. has a 1 year low of $70.73 and a 1 year high of $95.42. The company has a market capitalization of $10.90 billion, a PE ratio of 17.34, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a fifty day moving average of $89.83 and a 200 day 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.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.25. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

PNW has been the subject of a number of research analyst reports. Guggenheim reiterated a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Citigroup increased their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. 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 research note on Friday, March 21st. 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. Finally, Jefferies Financial Group cut their target price 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. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.17.

Pinnacle West Capital Company 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.