Oak Thistle LLC Sells 9,124 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Oak Thistle LLC cut its position in Pinnacle West Capital Co. (NYSE:PNWFree Report) by 38.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,696 shares of the utilities provider’s stock after selling 9,124 shares during the quarter. Oak Thistle LLC’s holdings in Pinnacle West Capital were worth $1,056,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mirador Capital Partners LP boosted its position in shares of Pinnacle West Capital by 5.8% during the 4th quarter. Mirador Capital Partners LP now owns 7,418 shares of the utilities provider’s stock valued at $533,000 after purchasing an additional 404 shares in the last quarter. ERn Financial LLC grew its position in shares of Pinnacle West Capital by 20.0% during the 4th quarter. ERn Financial LLC now owns 8,119 shares of the utilities provider’s stock worth $563,000 after buying an additional 1,351 shares during the period. Blue Trust Inc. grew its position in shares of Pinnacle West Capital by 985.7% during the 4th quarter. Blue Trust Inc. now owns 532 shares of the utilities provider’s stock worth $39,000 after buying an additional 483 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $5,994,000. Finally, Pacer Advisors Inc. lifted its position in shares of Pinnacle West Capital by 604.2% during the 4th quarter. Pacer Advisors Inc. now owns 50,631 shares of the utilities provider’s stock valued at $3,637,000 after acquiring an additional 43,441 shares during the period. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW traded up $0.22 on Tuesday, hitting $74.27. The company’s stock had a trading volume of 297,738 shares, compared to its average volume of 1,432,694. The company has a market capitalization of $8.42 billion, a PE ratio of 16.85, a PEG ratio of 2.08 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.67 and a quick ratio of 0.50. The company has a 50-day simple moving average of $70.07 and a 200 day simple moving average of $72.36. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $86.03.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Guggenheim upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Monday, January 22nd. Wells Fargo & Company dropped their price target on Pinnacle West Capital from $78.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, January 26th. UBS Group upgraded shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $68.00 to $71.00 in a report on Monday, March 11th. Royal Bank of Canada reduced their target price on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, March 1st. Finally, Evercore ISI reduced their price objective on Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.91.

Read Our Latest Report on PNW

Pinnacle West Capital Company Profile

(Free Report)

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.

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

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