Simplicity Solutions LLC Cuts Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Simplicity Solutions LLC decreased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,603 shares of the utilities provider’s stock after selling 1,850 shares during the quarter. Simplicity Solutions LLC’s holdings in Pinnacle West Capital were worth $834,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PNW. HighTower Advisors LLC grew its holdings in shares of Pinnacle West Capital by 8.0% during the first quarter. HighTower Advisors LLC now owns 21,980 shares of the utilities provider’s stock worth $1,718,000 after purchasing an additional 1,630 shares in the last quarter. MetLife Investment Management LLC lifted its position in Pinnacle West Capital by 23.1% in the 1st quarter. MetLife Investment Management LLC now owns 30,693 shares of the utilities provider’s stock worth $2,397,000 after buying an additional 5,768 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Pinnacle West Capital by 5.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 31,722 shares of the utilities provider’s stock worth $2,599,000 after buying an additional 1,681 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Pinnacle West Capital by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 494,515 shares of the utilities provider’s stock worth $38,620,000 after buying an additional 31,526 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Pinnacle West Capital by 7.8% in the 1st quarter. Sei Investments Co. now owns 135,551 shares of the utilities provider’s stock worth $10,571,000 after buying an additional 9,777 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $71.21 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.50 and a current ratio of 0.67. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $86.03. The company has a market capitalization of $8.09 billion, a P/E ratio of 16.15, a PEG ratio of 2.03 and a beta of 0.49. The stock has a 50 day moving average price of $70.77 and a two-hundred day moving average price of $72.06.

Analysts Set New Price Targets

PNW has been the subject of a number of recent research reports. Barclays boosted their target price on Pinnacle West Capital from $75.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday. StockNews.com downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Guggenheim upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Monday, January 22nd. Royal Bank of Canada dropped their target price on 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 dropped their target price on Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a research report on Monday, March 4th. One equities 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.