Naples Global Advisors LLC Has $790,000 Position in Pinnacle West Capital Co. (NYSE:PNW)

Naples Global Advisors LLC reduced its stake in Pinnacle West Capital Co. (NYSE:PNWGet Rating) by 13.7% in the 4th quarter, Holdings Channel reports. The firm owned 11,190 shares of the utilities provider’s stock after selling 1,775 shares during the period. Naples Global Advisors LLC’s holdings in Pinnacle West Capital were worth $790,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Morningstar Investment Services LLC bought a new position in Pinnacle West Capital in the 3rd quarter worth approximately $3,284,000. Moors & Cabot Inc. increased its position in shares of Pinnacle West Capital by 148.5% during the third quarter. Moors & Cabot Inc. now owns 41,034 shares of the utilities provider’s stock valued at $2,964,000 after purchasing an additional 24,522 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of Pinnacle West Capital by 2.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 126,266 shares of the utilities provider’s stock valued at $9,137,000 after purchasing an additional 2,813 shares during the period. GW Henssler & Associates Ltd. increased its position in shares of Pinnacle West Capital by 6.9% during the third quarter. GW Henssler & Associates Ltd. now owns 203,412 shares of the utilities provider’s stock valued at $14,719,000 after purchasing an additional 13,108 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of Pinnacle West Capital by 5.8% during the third quarter. HighTower Advisors LLC now owns 31,405 shares of the utilities provider’s stock valued at $2,266,000 after purchasing an additional 1,735 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Shares of Pinnacle West Capital stock traded up $0.12 during trading hours on Monday, hitting $77.66. The company’s stock had a trading volume of 7,665 shares, compared to its average volume of 846,840. Pinnacle West Capital Co. has a 12 month low of $62.78 and a 12 month high of $88.54. The stock has a 50 day simple moving average of $73.64. The company has a market capitalization of $8.78 billion, a P/E ratio of 14.18 and a beta of 0.28. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.15.

Pinnacle West Capital (NYSE:PNWGet Rating) last announced its earnings results on Friday, February 25th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.17. Pinnacle West Capital had a return on equity of 10.38% and a net margin of 16.27%. The business had revenue of $798.90 million for the quarter, compared to analyst estimates of $659.68 million. During the same quarter last year, the firm earned ($0.17) EPS. Pinnacle West Capital’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Pinnacle West Capital Co. will post 3.96 earnings per share for the current fiscal year.

A number of analysts have weighed in on the company. Wells Fargo & Company upped their price target on Pinnacle West Capital from $68.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, February 28th. Morgan Stanley upped their price target on Pinnacle West Capital from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 22nd. StockNews.com started coverage on Pinnacle West Capital in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. KeyCorp boosted their price objective on Pinnacle West Capital from $60.00 to $62.00 and gave the stock an “underweight” rating in a research note on Thursday, January 13th. Finally, UBS Group lowered Pinnacle West Capital from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $72.00 to $64.00 in a research note on Wednesday, January 5th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Pinnacle West Capital has a consensus rating of “Hold” and a consensus target price of $74.61.

About Pinnacle West Capital (Get Rating)

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, 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.

Further Reading

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Co. (NYSE:PNWGet Rating).

Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.