NEOS Investment Management LLC purchased a new stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,047 shares of the utilities provider's stock, valued at approximately $428,000.
Several other large investors have also added to or reduced their stakes in the business. HITE Hedge Asset Management LLC raised its holdings in shares of Pinnacle West Capital by 261.2% in the third quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider's stock valued at $8,178,000 after purchasing an additional 66,755 shares during the last quarter. XTX Topco Ltd purchased a new stake in Pinnacle West Capital in the 3rd quarter valued at about $2,235,000. Principal Financial Group Inc. increased its stake in Pinnacle West Capital by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider's stock valued at $12,336,000 after buying an additional 9,993 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Pinnacle West Capital by 47.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider's stock worth $995,000 after buying an additional 3,758 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Pinnacle West Capital by 33.3% in the 4th quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider's stock worth $128,000 after buying an additional 360 shares during the last quarter. Institutional investors own 91.51% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on PNW shares. Wells Fargo & Company lifted their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Barclays boosted their price target on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a report on Tuesday. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "strong-buy" rating in a report on Monday, March 17th. Guggenheim reiterated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, UBS Group raised their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Pinnacle West Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.50.
Get Our Latest Stock Analysis on Pinnacle West Capital
Pinnacle West Capital Stock Performance
Pinnacle West Capital stock traded up $0.19 during mid-day trading on Wednesday, reaching $95.47. The company's stock had a trading volume of 664,740 shares, compared to its average volume of 1,058,092. The firm's fifty day moving average price is $90.60 and its two-hundred day moving average price is $89.04. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $96.25. The company has a market capitalization of $11.37 billion, a P/E ratio of 18.08, a PEG ratio of 3.59 and a beta of 0.53.
Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.25. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.
Pinnacle West Capital 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.
Read More
Before you consider Pinnacle West Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pinnacle West Capital wasn't on the list.
While Pinnacle West Capital currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
