Pinnacle West Capital Co. (NYSE:PNW) Holdings Boosted by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 85.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 322,039 shares of the utilities provider's stock after buying an additional 148,019 shares during the quarter. Federated Hermes Inc. owned 0.28% of Pinnacle West Capital worth $27,299,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. YANKCOM Partnership acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in Pinnacle West Capital in the fourth quarter valued at $38,000. Roble Belko & Company Inc purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $42,000. Transcendent Capital Group LLC purchased a new position in shares of Pinnacle West Capital during the fourth quarter worth about $46,000. Finally, Allworth Financial LP increased its holdings in shares of Pinnacle West Capital by 125.9% in the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock valued at $56,000 after purchasing an additional 365 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Up 2.0 %

PNW traded up $1.88 during trading hours on Monday, reaching $93.79. 211,315 shares of the stock traded hands, compared to its average volume of 1,072,692. Pinnacle West Capital Co. has a fifty-two week low of $70.73 and a fifty-two week high of $96.50. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The company has a market cap of $11.17 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 3.59 and a beta of 0.42. The firm's fifty day simple moving average is $91.56 and its two-hundred day simple moving average is $89.16.

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

Wall Street Analyst Weigh In

PNW has been the subject of several recent analyst reports. Guggenheim restated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Jefferies Financial Group lowered their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Barclays lifted their price objective on 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. Finally, UBS Group raised their price target 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. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.