Ranch Capital Advisors Inc. Buys New Stake in Pinnacle West Capital Co. (NYSE:PNW)

Ranch Capital Advisors Inc. purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,203 shares of the utilities provider's stock, valued at approximately $441,000.

A number of other large investors also recently modified their holdings of PNW. State Street Corp lifted its position in Pinnacle West Capital by 0.9% during the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider's stock valued at $567,394,000 after buying an additional 56,644 shares in the last quarter. Zimmer Partners LP grew its position in shares of Pinnacle West Capital by 5.7% during the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider's stock worth $256,882,000 after buying an additional 155,466 shares in the last quarter. Reaves W H & Co. Inc. lifted its position in shares of 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 worth $117,891,000 after purchasing an additional 362,083 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Pinnacle West Capital by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,031,190 shares of the utilities provider's stock worth $87,414,000 after acquiring an additional 3,102 shares in the last quarter. Finally, Empower Advisory Group LLC lifted its stake in Pinnacle West Capital by 2.0% during the third quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider's stock worth $86,230,000 after purchasing an additional 18,673 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages recently commented on PNW. KeyCorp upgraded Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Morgan Stanley dropped their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group reduced their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company raised their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Barclays cut Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $93.00 to $91.00 in a report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $92.28.

Pinnacle West Capital Stock Up 0.7 %

Pinnacle West Capital stock traded up $0.62 during mid-day trading on Thursday, hitting $91.85. The company's stock had a trading volume of 917,746 shares, compared to its average volume of 989,352. The firm's 50 day moving average is $88.02 and its 200 day moving average is $88.51. Pinnacle West Capital Co. has a 52-week low of $69.50 and a 52-week high of $95.42. The company has a market cap of $10.94 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. 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) earnings per share for the quarter, topping 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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current 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.