Stratos Wealth Partners LTD. Sells 169 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Stratos Wealth Partners LTD. lessened its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 3.4% during the 4th quarter, Holdings Channel reports. The firm owned 4,844 shares of the utilities provider’s stock after selling 169 shares during the period. Stratos Wealth Partners LTD.’s holdings in Pinnacle West Capital were worth $348,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PNW. Norges Bank bought a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $104,067,000. State Street Corp boosted its stake in Pinnacle West Capital by 18.4% during the 1st quarter. State Street Corp now owns 6,911,753 shares of the utilities provider’s stock worth $539,808,000 after acquiring an additional 1,072,235 shares during the last quarter. Invesco Ltd. boosted its stake in Pinnacle West Capital by 29.6% during the 1st quarter. Invesco Ltd. now owns 3,537,942 shares of the utilities provider’s stock worth $276,313,000 after acquiring an additional 808,207 shares during the last quarter. Captrust Financial Advisors boosted its stake in Pinnacle West Capital by 297.6% during the 4th quarter. Captrust Financial Advisors now owns 633,531 shares of the utilities provider’s stock worth $48,174,000 after acquiring an additional 474,174 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Pinnacle West Capital by 2.7% during the 1st quarter. BlackRock Inc. now owns 10,307,741 shares of the utilities provider’s stock worth $816,785,000 after acquiring an additional 273,945 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

NYSE PNW opened at $72.24 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.67 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 has a market capitalization of $8.20 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 2.03 and a beta of 0.49. The firm’s 50 day moving average is $70.68 and its 200-day moving average is $72.07.

Analyst Upgrades and Downgrades

PNW has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Pinnacle West Capital from $78.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, January 26th. UBS Group raised shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $68.00 to $71.00 in a research note on Monday, March 11th. Evercore ISI reduced their price objective on shares of Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating on the stock in a research note on Monday, March 4th. Bank of America upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their target price for the stock from $71.00 to $80.00 in a report on Monday, March 18th. Finally, Royal Bank of Canada dropped their target price on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $72.91.

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.