Geneos Wealth Management Inc. Cuts Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Geneos Wealth Management Inc. cut its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 74.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,469 shares of the utilities provider’s stock after selling 4,318 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Pinnacle West Capital were worth $106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PNW. HighTower Advisors LLC boosted its stake in Pinnacle West Capital by 8.0% in the first quarter. HighTower Advisors LLC now owns 21,980 shares of the utilities provider’s stock valued at $1,718,000 after acquiring an additional 1,630 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Pinnacle West Capital by 23.1% in the first quarter. MetLife Investment Management LLC now owns 30,693 shares of the utilities provider’s stock valued at $2,397,000 after acquiring an additional 5,768 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Pinnacle West Capital by 5.6% in the first quarter. Great West Life Assurance Co. Can now owns 31,722 shares of the utilities provider’s stock valued at $2,599,000 after acquiring an additional 1,681 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Pinnacle West Capital by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 494,515 shares of the utilities provider’s stock valued at $38,620,000 after acquiring an additional 31,526 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Pinnacle West Capital by 7.8% in the first quarter. Sei Investments Co. now owns 135,551 shares of the utilities provider’s stock valued at $10,571,000 after acquiring an additional 9,777 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $72.11 on Tuesday. The firm’s 50 day simple moving average is $70.77 and its 200 day simple moving average is $72.06. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $8.19 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.03 and a beta of 0.49. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $86.03.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their target price for the company from $71.00 to $80.00 in a research note on Monday, March 18th. UBS Group upgraded shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and boosted their target price for the company from $68.00 to $71.00 in a research note on Monday, March 11th. Barclays boosted their price target on shares of Pinnacle West Capital from $75.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho lowered their price target on shares of Pinnacle West Capital from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Finally, StockNews.com lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.00.

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.