Vanguard Group Inc. Purchases 143,716 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Vanguard Group Inc. boosted its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,180,909 shares of the utilities provider's stock after buying an additional 143,716 shares during the quarter. Vanguard Group Inc. owned approximately 12.47% of Pinnacle West Capital worth $1,202,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in PNW. YANKCOM Partnership purchased a new position in shares of Pinnacle West Capital in the fourth quarter valued at $29,000. Brown Lisle Cummings Inc. purchased a new position in Pinnacle West Capital during the 4th quarter valued at about $38,000. Roble Belko & Company Inc bought a new stake in shares of Pinnacle West Capital during the fourth quarter valued at about $42,000. Transcendent Capital Group LLC purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth about $46,000. Finally, Allworth Financial LP boosted its position in shares of Pinnacle West Capital by 125.9% in the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock valued at $56,000 after acquiring an additional 365 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

PNW has been the topic of several recent analyst reports. Citigroup increased their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. UBS Group increased their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Wells Fargo & Company boosted their target price on 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. KeyCorp raised Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target on the stock in a report on Wednesday, December 4th. Finally, Jefferies Financial Group cut their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Six 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $95.50.

Remove Ads

Pinnacle West Capital Price Performance

PNW traded down $0.02 during midday trading on Tuesday, hitting $95.23. The stock had a trading volume of 865,711 shares, compared to its average volume of 1,059,643. Pinnacle West Capital Co. has a 1 year low of $70.73 and a 1 year high of $95.83. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The business has a fifty day moving average of $90.60 and a 200 day moving average of $89.04. The company has a market cap of $11.34 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.10 billion during the quarter, compared to analysts' expectations 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 analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share 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.