Pinnacle West Capital Co. (NYSE:PNW) Position Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 58.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,975 shares of the utilities provider's stock after acquiring an additional 10,326 shares during the period. Teacher Retirement System of Texas' holdings in Pinnacle West Capital were worth $2,371,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PNW. YANKCOM Partnership bought a new stake in Pinnacle West Capital in the 4th quarter valued at about $29,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $38,000. Roble Belko & Company Inc bought a new stake in shares of Pinnacle West Capital during the fourth quarter valued at approximately $42,000. Transcendent Capital Group LLC acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth approximately $46,000. Finally, Allworth Financial LP grew its holdings in Pinnacle West Capital by 125.9% in the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock worth $56,000 after buying an additional 365 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Price Performance

Shares of NYSE PNW traded up $1.21 during mid-day trading on Friday, reaching $94.23. The company had a trading volume of 1,537,012 shares, compared to its average volume of 1,059,649. The company has a 50-day moving average price of $90.28 and a two-hundred day moving average price of $88.96. The stock has a market cap of $11.22 billion, a PE ratio of 17.85, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $95.42.

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Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued 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 return on equity of 9.60% and a net margin of 12.26%. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. On average, equities analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. KeyCorp raised shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 target price on the stock in a research note on Wednesday, December 4th. Morgan Stanley increased their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Jefferies Financial Group dropped their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company increased their price target on 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, Citigroup boosted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $95.17.

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.