American Century Companies Inc. Boosts Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

American Century Companies Inc. boosted its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,333 shares of the utilities provider's stock after acquiring an additional 2,665 shares during the quarter. American Century Companies Inc. owned 0.11% of Pinnacle West Capital worth $10,964,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in shares of Pinnacle West Capital in the third quarter worth approximately $2,235,000. Principal Financial Group Inc. grew its position 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 worth $12,336,000 after purchasing an additional 9,993 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 valued at $995,000 after buying an additional 3,758 shares during the last quarter. Blue Trust Inc. raised its stake in Pinnacle West Capital by 33.3% during the 4th quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider's stock valued at $128,000 after buying an additional 360 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Pinnacle West Capital by 14.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider's stock valued at $363,000 after buying an additional 545 shares during the period. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Price Performance

Shares of PNW stock traded down $1.41 on Monday, hitting $89.68. 2,556,999 shares of the stock traded hands, compared to its average volume of 1,071,548. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 3.59 and a beta of 0.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $91.13 and a two-hundred day simple moving average of $89.12. Pinnacle West Capital Co. has a 52 week low of $70.73 and a 52 week high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.25. The business had revenue of $1.10 billion for 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%. As a group, equities research analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PNW shares. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "strong-buy" rating in a research report on Monday, March 17th. Jefferies Financial Group reduced their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company raised their price objective on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Morgan Stanley upped their target price on shares of 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, Barclays lifted 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 research note on Tuesday, April 1st. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.