Skba Capital Management LLC Sells 5,000 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Skba Capital Management LLC lessened its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 3.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,910 shares of the utilities provider’s stock after selling 5,000 shares during the period. Pinnacle West Capital accounts for approximately 2.2% of Skba Capital Management LLC’s portfolio, making the stock its 12th largest holding. Skba Capital Management LLC’s holdings in Pinnacle West Capital were worth $13,725,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. YANKCOM Partnership bought a new stake in Pinnacle West Capital in the fourth quarter worth $29,000. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital in the fourth quarter worth about $38,000. Roble Belko & Company Inc purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at approximately $42,000. Transcendent Capital Group LLC purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at approximately $46,000. Finally, Allworth Financial LP boosted its holdings in Pinnacle West Capital by 125.9% in the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 365 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on PNW shares. UBS Group lifted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Guggenheim reiterated a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.17.

Pinnacle West Capital Stock Up 1.3 %

PNW stock opened at $94.23 on Monday. The firm has a 50 day moving average of $90.28 and a 200 day moving average of $88.96. The stock has a market capitalization of $11.22 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a 52 week low of $70.73 and a 52 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 posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.25. The company 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%. Sell-side analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital 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.