Sei Investments Co. raised its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 27.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,842 shares of the utilities provider's stock after acquiring an additional 25,226 shares during the period. Sei Investments Co. owned approximately 0.10% of Pinnacle West Capital worth $9,904,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital during the fourth quarter valued at about $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Pinnacle West Capital during the 4th quarter worth about $38,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital in the 4th quarter worth approximately $42,000. Transcendent Capital Group LLC bought a new stake in Pinnacle West Capital during the fourth quarter worth approximately $46,000. Finally, Allworth Financial LP increased its position in shares of Pinnacle West Capital by 125.9% during the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock valued at $56,000 after purchasing an additional 365 shares during the period. Institutional investors own 91.51% of the company's stock.
Pinnacle West Capital Stock Performance
PNW stock traded down $0.11 during midday trading on Wednesday, hitting $95.17. 233,529 shares of the company traded hands, compared to its average volume of 1,062,117. The business has a 50 day simple moving average of $90.60 and a 200-day simple moving average of $89.04. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a twelve month low of $70.72 and a twelve month high of $95.84. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.
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, beating analysts' consensus estimates of ($0.31) by $0.25. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. As a group, equities research analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts recently weighed in on PNW shares. Barclays raised their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Tuesday. Guggenheim reissued a "buy" rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. UBS Group upped 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. Citigroup raised their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Finally, 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 research report on Wednesday, December 4th. Six 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.50.
Check Out Our Latest Research Report on Pinnacle West Capital
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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