Skandinaviska Enskilda Banken AB publ bought a new position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 13,886 shares of the utilities provider's stock, valued at approximately $1,178,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. YANKCOM Partnership purchased a new position in Pinnacle West Capital in the fourth quarter worth approximately $29,000. Brown Lisle Cummings Inc. purchased a new stake in Pinnacle West Capital during the fourth quarter worth about $38,000. Roble Belko & Company Inc purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth $42,000. Prospera Private Wealth LLC purchased a new stake in Pinnacle West Capital during the 3rd quarter worth about $43,000. Finally, Transcendent Capital Group LLC acquired a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $46,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Pinnacle West Capital Stock Performance
Shares of Pinnacle West Capital stock traded down $0.53 on Friday, reaching $93.67. 2,078,526 shares of the stock were exchanged, compared to its average volume of 984,052. 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 firm has a market capitalization of $11.16 billion, a PE ratio of 17.74, a PEG ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $95.42. The business has a fifty day moving average price of $89.22 and a two-hundred day moving average price of $88.77.
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 (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.25. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations 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, research analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research firms have 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 on the stock in a report on Wednesday, December 4th. Guggenheim reaffirmed a "buy" rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Citigroup increased their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group lowered their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Six 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. According to data from MarketBeat, Pinnacle West Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.17.
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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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