National Bank of Canada FI Acquires 65,781 Shares of Pinnacle West Capital Co. (NYSE:PNW)

National Bank of Canada FI grew its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 114.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,258 shares of the utilities provider's stock after acquiring an additional 65,781 shares during the period. National Bank of Canada FI owned 0.11% of Pinnacle West Capital worth $10,456,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Pinnacle West Capital during the 4th quarter worth approximately $194,655,000. Assenagon Asset Management S.A. increased its holdings in shares of Pinnacle West Capital by 221.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider's stock worth $57,413,000 after purchasing an additional 466,736 shares during the period. Jennison Associates LLC purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $32,078,000. Reaves W H & Co. Inc. boosted its stake in Pinnacle West Capital by 35.2% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider's stock valued at $117,891,000 after buying an additional 362,083 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in Pinnacle West Capital by 17.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,855,586 shares of the utilities provider's stock worth $157,298,000 after acquiring an additional 268,951 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Trading Down 1.6 %

Shares of Pinnacle West Capital stock traded down $1.44 on Thursday, hitting $89.18. The stock had a trading volume of 191,866 shares, compared to its average volume of 1,075,481. The stock's 50-day simple moving average is $91.39 and its two-hundred day simple moving average is $89.12. Pinnacle West Capital Co. has a one year low of $70.73 and a one year 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 stock has a market cap of $10.62 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted 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. The company 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%. As a group, sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted 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 report on Thursday, March 20th. 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. Jefferies Financial Group lowered 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. UBS Group increased 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, Wells Fargo & Company boosted their target price 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 research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.