TCI Wealth Advisors Inc. Trims Position in Pinnacle West Capital Co. (NYSE:PNW)

TCI Wealth Advisors Inc. cut its position in Pinnacle West Capital Co. (NYSE:PNW) by 45.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,280 shares of the utilities provider’s stock after selling 6,876 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Pinnacle West Capital were worth $595,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. increased its holdings in Pinnacle West Capital by 338.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 274 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Pinnacle West Capital in the 4th quarter valued at $26,000. Tobam increased its holdings in Pinnacle West Capital by 2,620.0% in the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 393 shares during the last quarter. Blue Trust Inc. increased its holdings in Pinnacle West Capital by 985.7% in the 4th quarter. Blue Trust Inc. now owns 532 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 483 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in Pinnacle West Capital in the 3rd quarter valued at $52,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PNW. UBS Group upgraded shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and lifted their price target for the company from $68.00 to $71.00 in a report on Monday, March 11th. Morgan Stanley boosted their target price on shares of Pinnacle West Capital from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. StockNews.com downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Evercore ISI reduced their target price on shares of Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating on the stock in a report on Monday, March 4th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Pinnacle West Capital in a report on Wednesday, February 14th. They issued a “neutral” rating and a $69.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.67.

Pinnacle West Capital Trading Up 1.0 %

Shares of PNW stock traded up $0.75 during trading hours on Friday, reaching $75.79. 1,042,561 shares of the stock were exchanged, compared to its average volume of 966,016. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.48. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 12-month low of $65.20 and a 12-month high of $86.03. The company’s 50-day moving average price is $72.41 and its 200-day moving average price is $72.07.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.17. The company had revenue of $951.71 million during the quarter, compared to analysts’ expectations of $981.82 million. Pinnacle West Capital had a net margin of 11.09% and a return on equity of 8.30%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) EPS. As a group, equities analysts anticipate that Pinnacle West Capital Co. will post 4.72 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be given a $0.88 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $3.52 annualized dividend and a dividend yield of 4.64%. Pinnacle West Capital’s payout ratio is presently 76.69%.

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.