Geode Capital Management LLC Grows Stake in Pinnacle West Capital Co. (NYSE:PNW)

Geode Capital Management LLC lifted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,880,315 shares of the utilities provider's stock after purchasing an additional 204,805 shares during the quarter. Geode Capital Management LLC owned 2.53% of Pinnacle West Capital worth $243,897,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI grew its position in shares of Pinnacle West Capital by 114.4% during the 4th quarter. National Bank of Canada FI now owns 123,258 shares of the utilities provider's stock valued at $10,456,000 after purchasing an additional 65,781 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Pinnacle West Capital by 8.1% in the 4th quarter. Alliancebernstein L.P. now owns 154,943 shares of the utilities provider's stock valued at $13,135,000 after acquiring an additional 11,635 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Pinnacle West Capital by 1.7% in the 4th quarter. California Public Employees Retirement System now owns 556,241 shares of the utilities provider's stock valued at $47,153,000 after acquiring an additional 9,438 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Pinnacle West Capital by 0.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock worth $581,945,000 after purchasing an additional 37,768 shares during the last quarter. Finally, denkapparat Operations GmbH purchased a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $525,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

PNW traded down $1.76 during mid-day trading on Thursday, reaching $88.86. 234,746 shares of the company traded hands, compared to its average volume of 1,111,544. The stock has a market capitalization of $10.58 billion, a P/E ratio of 16.83, a P/E/G ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 52-week low of $70.72 and a 52-week high of $96.50. 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 company's fifty day moving average price is $91.39 and its 200-day moving average price is $89.12.

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, topping 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 business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. On average, sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PNW shares. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Morgan Stanley upped their price target on 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 lifted their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Guggenheim reiterated a "buy" rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their price target on 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently 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.