New Age Alpha Advisors LLC purchased a new position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 35,687 shares of the utilities provider's stock, valued at approximately $3,025,000.
Other institutional investors have also made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its position in shares of Pinnacle West Capital by 0.9% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider's stock worth $1,163,000 after purchasing an additional 116 shares in the last quarter. Fortem Financial Group LLC raised its stake in Pinnacle West Capital by 2.2% during the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider's stock worth $485,000 after buying an additional 124 shares during the period. New York Life Investment Management LLC lifted its holdings in Pinnacle West Capital by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock worth $1,264,000 after acquiring an additional 127 shares in the last quarter. Global Retirement Partners LLC grew its stake in Pinnacle West Capital by 10.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock valued at $135,000 after acquiring an additional 156 shares during the period. Finally, 1620 Investment Advisors Inc. increased its holdings in shares of Pinnacle West Capital by 3.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider's stock worth $397,000 after acquiring an additional 162 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Barclays boosted their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research report on Tuesday. KeyCorp upgraded shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target for the company in a report on Wednesday, December 4th. UBS Group raised their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Citigroup upped their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley increased their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Six equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.50.
Check Out Our Latest Analysis on PNW
Pinnacle West Capital Stock Up 1.0 %
Shares of Pinnacle West Capital stock traded up $0.91 during trading hours on Thursday, reaching $96.34. 210,693 shares of the company's stock were exchanged, compared to its average volume of 1,055,932. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company has a 50 day moving average of $90.79 and a two-hundred day moving average of $89.08. The stock has a market cap of $11.47 billion, a P/E ratio of 18.25, a P/E/G ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a fifty-two week low of $70.73 and a fifty-two week high of $96.50.
Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share 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 firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. On average, sell-side analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.
About Pinnacle West Capital
(
Free Report)
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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