Bank of Montreal Can Acquires 7,481 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Bank of Montreal Can lifted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,029 shares of the utilities provider's stock after acquiring an additional 7,481 shares during the period. Bank of Montreal Can owned approximately 0.22% of Pinnacle West Capital worth $21,619,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PNW. National Bank of Canada FI lifted its position in shares of Pinnacle West Capital by 83.6% in the third quarter. National Bank of Canada FI now owns 57,477 shares of the utilities provider's stock worth $5,092,000 after purchasing an additional 26,179 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in Pinnacle West Capital by 10.7% in the third quarter. Orion Portfolio Solutions LLC now owns 22,493 shares of the utilities provider's stock valued at $1,993,000 after purchasing an additional 2,177 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Pinnacle West Capital by 5.5% in the third quarter. MML Investors Services LLC now owns 6,434 shares of the utilities provider's stock valued at $570,000 after buying an additional 334 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Pinnacle West Capital by 49.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 3,509 shares of the utilities provider's stock worth $311,000 after buying an additional 1,157 shares during the last quarter. Finally, Barclays PLC raised its position in Pinnacle West Capital by 7.6% during the third quarter. Barclays PLC now owns 203,363 shares of the utilities provider's stock worth $18,014,000 after acquiring an additional 14,392 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

PNW has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of 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. Jefferies Financial Group dropped their price objective on shares of 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. Guggenheim restated a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Morgan Stanley upped their price objective 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, Barclays upped their price objective on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 1st. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Pinnacle West Capital has a consensus rating of "Moderate Buy" and a consensus price target of $95.50.

Pinnacle West Capital Stock Performance

PNW stock traded up $2.18 during mid-day trading on Thursday, hitting $95.59. The company had a trading volume of 565,185 shares, compared to its average volume of 1,074,006. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm has a market cap of $11.40 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 12 month low of $71.15 and a 12 month high of $97.34. The stock's fifty day moving average price is $91.92 and its two-hundred day moving average price is $89.26.

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

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.