Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. grew its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,943 shares of the utilities provider's stock after buying an additional 11,635 shares during the period. Alliancebernstein L.P. owned 0.14% of Pinnacle West Capital worth $13,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Pinnacle West Capital by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock worth $1,202,116,000 after acquiring an additional 143,716 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Pinnacle West Capital by 0.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock valued at $581,945,000 after acquiring an additional 37,768 shares during the period. Norges Bank purchased a new stake in Pinnacle West Capital in the 4th quarter worth approximately $194,655,000. Pictet Asset Management Holding SA grew its stake in shares of Pinnacle West Capital by 17.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,855,586 shares of the utilities provider's stock worth $157,298,000 after purchasing an additional 268,951 shares during the period. Finally, Reaves W H & Co. Inc. increased its holdings in shares of Pinnacle West Capital by 35.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider's stock valued at $117,891,000 after purchasing an additional 362,083 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Up 1.1 %

NYSE:PNW traded up $1.07 on Tuesday, hitting $94.78. The stock had a trading volume of 116,964 shares, compared to its average volume of 1,072,261. The company has a fifty day moving average price of $91.66 and a two-hundred day moving average price of $89.19. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $96.50. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly 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 analysts' expectations of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Equities research analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley boosted their target price on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Guggenheim reiterated a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. 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 note on Friday, March 21st. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $95.50.

About Pinnacle West Capital

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.