Bridgewater Associates LP Boosts Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Bridgewater Associates LP increased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 56.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 159,804 shares of the utilities provider's stock after acquiring an additional 57,834 shares during the period. Bridgewater Associates LP owned about 0.14% of Pinnacle West Capital worth $13,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital in the 4th quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $35,000. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital during the fourth quarter worth about $38,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital during the fourth quarter worth about $42,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Pinnacle West Capital in the fourth quarter valued at approximately $46,000. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Up 1.8 %

Pinnacle West Capital stock traded up $1.72 during midday trading on Tuesday, reaching $94.96. The stock had a trading volume of 137,262 shares, compared to its average volume of 1,081,329. Pinnacle West Capital Co. has a 12 month low of $72.78 and a 12 month high of $96.50. The company has a fifty day moving average price of $92.25 and a two-hundred day moving average price of $89.36. 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 market capitalization of $11.32 billion, a P/E ratio of 18.00, 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 for the quarter, beating analysts' consensus estimates of ($0.31) by $0.25. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates 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, equities analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNW. Wells Fargo & Company lifted their target price 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. UBS Group boosted their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Guggenheim reaffirmed a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Barclays boosted their price target on 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. Finally, LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "strong-buy" rating in a research report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.50.

About Pinnacle West Capital

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.