21,107 Shares in Pinnacle West Capital Co. (NYSE:PNW) Bought by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,107 shares of the utilities provider's stock, valued at approximately $1,789,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Pinnacle West Capital by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock worth $1,202,116,000 after buying an additional 143,716 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Pinnacle West Capital by 0.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock worth $581,945,000 after acquiring an additional 37,768 shares during the last quarter. State Street Corp grew its position in shares of Pinnacle West Capital by 0.9% during the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider's stock valued at $567,394,000 after acquiring an additional 56,644 shares during the period. Zimmer Partners LP increased its stake in shares of Pinnacle West Capital by 5.7% in the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider's stock worth $256,882,000 after purchasing an additional 155,466 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Pinnacle West Capital by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider's stock worth $243,897,000 after purchasing an additional 204,805 shares during the period. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Up 2.3 %

NYSE PNW traded up $2.07 on Wednesday, hitting $90.89. The stock had a trading volume of 1,784,326 shares, compared to its average volume of 1,078,930. The business's fifty day moving average price is $91.39 and its 200 day moving average price is $89.12. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth 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 52-week low of $70.73 and a 52-week high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Equities research analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have 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. UBS Group raised their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Jefferies Financial Group dropped 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. Barclays raised their price objective on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 1st. Finally, Morgan Stanley upped their target price on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. 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. Based on data from MarketBeat, Pinnacle West Capital presently has an average rating of "Moderate Buy" and a consensus price target of $95.50.

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.