Amundi lifted its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 1,781.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,754 shares of the utilities provider's stock after buying an additional 136,115 shares during the quarter. Amundi owned approximately 0.13% of Pinnacle West Capital worth $12,019,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital during the 4th quarter worth $29,000. Venturi Wealth Management LLC lifted its stake in shares of Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider's stock worth $38,000 after purchasing an additional 238 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new stake in shares of Pinnacle West Capital during the 4th quarter worth $38,000. Roble Belko & Company Inc purchased a new stake in shares of Pinnacle West Capital during the 4th quarter worth $42,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital during the 3rd quarter worth $43,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. KeyCorp upgraded Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Jefferies Financial Group decreased their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Barclays cut Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Wells Fargo & Company increased their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Citigroup increased their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Pinnacle West Capital currently has a consensus rating of "Moderate Buy" and an average target price of $92.28.
Get Our Latest Stock Report on PNW
Pinnacle West Capital Stock Performance
Shares of NYSE:PNW traded down $0.93 during trading on Tuesday, hitting $93.33. The stock had a trading volume of 1,113,243 shares, compared to its average volume of 982,522. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $95.42. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. 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 50-day simple moving average of $88.58 and a two-hundred day simple moving average of $88.66.
Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.25. The firm 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%. On average, equities research analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.
About Pinnacle West Capital
(
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.
See Also
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
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
