Cerity Partners LLC Has $7.96 Million Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Cerity Partners LLC boosted its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 996.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,764 shares of the utilities provider's stock after acquiring an additional 85,214 shares during the period. Cerity Partners LLC owned 0.08% of Pinnacle West Capital worth $7,960,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PNW. Norges Bank bought a new stake in shares of Pinnacle West Capital during the fourth quarter valued at about $194,655,000. Assenagon Asset Management S.A. boosted its stake in Pinnacle West Capital by 221.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider's stock valued at $57,413,000 after buying an additional 466,736 shares in the last quarter. Jennison Associates LLC acquired a new stake in Pinnacle West Capital in the 4th quarter valued at about $32,078,000. Reaves W H & Co. Inc. grew its position in Pinnacle West Capital by 35.2% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider's stock worth $117,891,000 after buying an additional 362,083 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted 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 acquiring an additional 268,951 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Performance

NYSE:PNW traded up $2.20 during midday trading on Thursday, reaching $95.61. The stock had a trading volume of 565,185 shares, compared to its average volume of 1,074,006. The stock has a market capitalization of $11.40 billion, a P/E ratio of 18.09, 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. Pinnacle West Capital Co. has a 1-year low of $71.15 and a 1-year high of $97.34. The firm's fifty day simple moving average is $91.92 and its 200-day simple moving average is $89.26.

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, topping the consensus estimate 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%. On average, equities research analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group upped their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Morgan Stanley boosted their price target 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. Guggenheim reaffirmed 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 upgraded Pinnacle West Capital to a "strong-buy" rating in a report on Monday, March 17th. Finally, Wells Fargo & Company increased their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $95.50.

Pinnacle West Capital 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.