Vanguard Group Inc. Boosts Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Vanguard Group Inc. raised its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,180,909 shares of the utilities provider’s stock after acquiring an additional 143,716 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of Pinnacle West Capital worth $1,202,116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in Pinnacle West Capital during the fourth quarter valued at $1,247,000. Sei Investments Co. increased its stake in shares of Pinnacle West Capital by 27.5% in the 4th quarter. Sei Investments Co. now owns 116,842 shares of the utilities provider’s stock worth $9,904,000 after acquiring an additional 25,226 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Pinnacle West Capital by 2.1% in the 4th quarter. American Century Companies Inc. now owns 129,333 shares of the utilities provider’s stock worth $10,964,000 after acquiring an additional 2,665 shares in the last quarter. 1620 Investment Advisors Inc. increased its stake in shares of Pinnacle West Capital by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock worth $397,000 after acquiring an additional 162 shares in the last quarter. Finally, Blueshift Asset Management LLC boosted its stake in Pinnacle West Capital by 22.2% during the fourth quarter. Blueshift Asset Management LLC now owns 4,332 shares of the utilities provider’s stock worth $367,000 after acquiring an additional 786 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 0.0 %

PNW stock opened at $93.01 on Friday. The stock has a market capitalization of $11.08 billion, a P/E ratio of 17.62, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $95.42. The business has a fifty day moving average price of $90.13 and a 200-day moving average price of $88.94.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Equities analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

PNW has been the topic of a number of recent research reports. Guggenheim restated a “buy” rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Jefferies Financial Group cut their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Citigroup boosted their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Morgan Stanley raised their price target on Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Finally, UBS Group lifted their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.17.

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.