Marshall Wace LLP Increases Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Marshall Wace LLP grew its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 266.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 69,739 shares of the utilities provider's stock after buying an additional 50,692 shares during the quarter. Marshall Wace LLP owned approximately 0.06% of Pinnacle West Capital worth $5,912,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PNW. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 143,716 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Pinnacle West Capital by 0.6% in 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 purchasing an additional 37,768 shares during the period. Invesco Ltd. lifted its position in shares of Pinnacle West Capital by 32.2% in the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock worth $364,342,000 after purchasing an additional 1,045,788 shares during the period. Geode Capital Management LLC boosted its stake in shares of Pinnacle West Capital by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider's stock valued at $243,897,000 after purchasing an additional 204,805 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at about $194,655,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on PNW. Wells Fargo & Company lifted their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Jefferies Financial Group dropped their price target 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. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "strong-buy" rating in a report on Monday, March 17th. UBS Group raised their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, Barclays upped their target price on shares of 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. Six 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 company's stock. Based on data from MarketBeat.com, Pinnacle West Capital currently has an average rating of "Moderate Buy" and an average price target of $95.50.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $94.41 on Thursday. The company has a market capitalization of $11.26 billion, a PE ratio of 17.88, a PEG ratio of 3.59 and a beta of 0.42. The business has a fifty day moving average price of $92.46 and a 200-day moving average price of $89.43. Pinnacle West Capital Co. has a 1-year low of $72.78 and a 1-year 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.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. As a group, equities analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

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.

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