Capital Research Global Investors Has $991.08 Million Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Capital Research Global Investors trimmed its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 18.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,691,348 shares of the utilities provider's stock after selling 2,669,778 shares during the quarter. Capital Research Global Investors owned approximately 10.28% of Pinnacle West Capital worth $991,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PNW. YANKCOM Partnership bought a new stake in Pinnacle West Capital during the fourth quarter valued at $29,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $35,000. Brown Lisle Cummings Inc. bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at about $38,000. Roble Belko & Company Inc acquired a new position in Pinnacle West Capital in the fourth quarter valued at approximately $42,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Pinnacle West Capital during the fourth quarter valued at $46,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PNW shares. Morgan Stanley lifted their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. UBS Group boosted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Guggenheim restated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Wells Fargo & Company increased their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $95.50.

Pinnacle West Capital Price Performance

PNW stock traded down $0.60 during trading hours on Wednesday, hitting $94.41. 1,763,015 shares of the stock traded hands, compared to its average volume of 1,170,094. The stock has a 50-day simple moving average of $92.36 and a 200 day simple moving average of $89.39. The company has a market cap of $11.26 billion, a P/E ratio of 17.88, a P/E/G ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a one year low of $72.78 and a one year high of $96.50. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data 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. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Equities analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current 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.