11,464 Shares in Pinnacle West Capital Co. (NYSE:PNW) Acquired by Farringdon Capital Ltd.

Farringdon Capital Ltd. purchased a new position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,464 shares of the utilities provider's stock, valued at approximately $972,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in shares of Pinnacle West Capital by 266.1% during the fourth quarter. Marshall Wace LLP now owns 69,739 shares of the utilities provider's stock valued at $5,912,000 after acquiring an additional 50,692 shares in the last quarter. Zacks Investment Management bought a new stake in Pinnacle West Capital during the 4th quarter valued at about $209,000. Jump Financial LLC raised its holdings in Pinnacle West Capital by 11.0% in the fourth quarter. Jump Financial LLC now owns 71,706 shares of the utilities provider's stock worth $6,079,000 after buying an additional 7,116 shares during the last quarter. Bridgewater Associates LP lifted its stake in shares of Pinnacle West Capital by 56.7% in the fourth quarter. Bridgewater Associates LP now owns 159,804 shares of the utilities provider's stock worth $13,547,000 after buying an additional 57,834 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Pinnacle West Capital during the fourth quarter valued at approximately $35,000. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock traded up $1.07 on Friday, reaching $94.48. The company's stock had a trading volume of 2,215,855 shares, compared to its average volume of 1,084,209. Pinnacle West Capital Co. has a 52-week low of $72.78 and a 52-week high of $96.50. The company has a market capitalization of $11.26 billion, a P/E ratio of 17.89, a PEG ratio of 3.59 and a beta of 0.42. 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 moving average price of $92.16 and a 200-day moving average price of $89.32.

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 (EPS) 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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PNW shares. Jefferies Financial Group lowered their price objective on 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. Wells Fargo & Company lifted their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Morgan Stanley upped their target price on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Guggenheim reiterated a "buy" rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "strong-buy" rating in a research report on Monday, March 17th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Pinnacle West Capital currently has an average rating of "Moderate Buy" and an average 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.