Harvest Fund Management Co. Ltd Makes New Investment in Pinnacle West Capital Co. (NYSE:PNW)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,018 shares of the utilities provider's stock, valued at approximately $764,000.

A number of other institutional investors also recently bought and sold shares of PNW. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at $29,000. Brown Lisle Cummings Inc. purchased a new stake in Pinnacle West Capital in the 4th quarter worth about $38,000. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital in the fourth quarter worth about $42,000. Prospera Private Wealth LLC purchased a new position in shares of Pinnacle West Capital during the third quarter valued at approximately $43,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at approximately $46,000. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PNW has been the subject of a number of research analyst reports. UBS Group raised their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Friday. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Wells Fargo & Company upped their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. KeyCorp raised shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target on the stock in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group lowered their price objective 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. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $95.17.

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Pinnacle West Capital Stock Down 1.7 %

Shares of NYSE PNW traded down $1.55 during midday trading on Tuesday, reaching $91.54. 1,153,705 shares of the company's stock traded hands, compared to its average volume of 986,723. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 3.59 and a beta of 0.53. The stock's 50 day simple moving average is $89.67 and its 200-day simple moving average is $88.85. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $95.42.

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. The business had revenue of $1.10 billion for 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, analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

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.