Russell Investments Group Ltd. Buys 86,055 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Russell Investments Group Ltd. lifted its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 19.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 534,932 shares of the utilities provider's stock after purchasing an additional 86,055 shares during the quarter. Russell Investments Group Ltd. owned 0.47% of Pinnacle West Capital worth $45,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Resona Asset Management Co. Ltd. acquired a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $60,000. Riverwater Partners LLC grew its stake in Pinnacle West Capital by 2.4% in the fourth quarter. Riverwater Partners LLC now owns 14,259 shares of the utilities provider's stock valued at $1,209,000 after purchasing an additional 333 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Pinnacle West Capital in the 4th quarter worth about $1,341,000. Nicolet Advisory Services LLC raised its stake in shares of Pinnacle West Capital by 12.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,902 shares of the utilities provider's stock worth $319,000 after purchasing an additional 447 shares in the last quarter. Finally, Cinctive Capital Management LP acquired a new stake in shares of Pinnacle West Capital during the 4th quarter valued at about $1,789,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNW has been the topic of a number of research reports. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "strong-buy" rating in a report on Monday, March 17th. UBS Group lifted their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Wells Fargo & Company increased their target price on shares of 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. Jefferies Financial Group reduced their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Finally, Guggenheim reissued a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Pinnacle West Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.50.

Pinnacle West Capital Stock Performance

PNW stock traded up $1.68 on Friday, reaching $91.96. 1,123,857 shares of the company were exchanged, compared to its average volume of 1,078,026. 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 Co. has a 12 month low of $70.73 and a 12 month high of $96.50. The stock's fifty day moving average price is $91.56 and its 200 day moving average price is $89.15. The firm has a market capitalization of $10.95 billion, a PE ratio of 17.42, a PEG ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.06 billion. On average, research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

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.