Gabelli Funds LLC Sells 2,800 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Gabelli Funds LLC trimmed its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 333,800 shares of the utilities provider’s stock after selling 2,800 shares during the quarter. Gabelli Funds LLC owned 0.29% of Pinnacle West Capital worth $28,296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. MML Investors Services LLC lifted its stake in Pinnacle West Capital by 5.5% in the third quarter. MML Investors Services LLC now owns 6,434 shares of the utilities provider’s stock valued at $570,000 after buying an additional 334 shares during the period. Barclays PLC raised its stake in shares of Pinnacle West Capital by 7.6% in the 3rd quarter. Barclays PLC now owns 203,363 shares of the utilities provider’s stock valued at $18,014,000 after purchasing an additional 14,392 shares during the period. M&T Bank Corp grew its stake in shares of Pinnacle West Capital by 10.4% during the 3rd quarter. M&T Bank Corp now owns 10,134 shares of the utilities provider’s stock worth $898,000 after acquiring an additional 958 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Pinnacle West Capital by 10.6% in the third quarter. Coldstream Capital Management Inc. now owns 3,110 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 299 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Pinnacle West Capital during the 3rd quarter worth about $882,000. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Trading Up 0.4 %

Shares of Pinnacle West Capital stock opened at $94.10 on Wednesday. The stock has a fifty day moving average price of $91.79 and a 200-day moving average price of $89.23. 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 firm has a market cap of $11.22 billion, a PE ratio of 17.82, a P/E/G ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 1 year low of $70.73 and a 1 year high of $96.50.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data 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 business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Equities research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PNW shares. Morgan Stanley increased their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Barclays increased their price objective on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 1st. Finally, Jefferies Financial Group reduced their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.50.

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.