Nicolet Advisory Services LLC Has $319,000 Position in Pinnacle West Capital Co. (NYSE:PNW)

Nicolet Advisory Services LLC raised its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 12.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,902 shares of the utilities provider’s stock after acquiring an additional 447 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Pinnacle West Capital were worth $319,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth approximately $194,655,000. Assenagon Asset Management S.A. raised its holdings in shares of Pinnacle West Capital by 221.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock valued at $57,413,000 after purchasing an additional 466,736 shares during the period. Jennison Associates LLC bought a new position in Pinnacle West Capital during the fourth quarter worth about $32,078,000. Reaves W H & Co. Inc. grew its holdings in Pinnacle West Capital by 35.2% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider’s stock worth $117,891,000 after purchasing an additional 362,083 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in Pinnacle West Capital by 17.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,855,586 shares of the utilities provider’s stock worth $157,298,000 after buying an additional 268,951 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PNW shares. Barclays lifted their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Morgan Stanley upped 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. UBS Group increased 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 report on Friday, March 21st. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. Finally, Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Six 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.50.

Pinnacle West Capital Stock Performance

Shares of NYSE:PNW opened at $91.15 on Friday. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $96.50. The company’s 50 day moving average price is $91.09 and its two-hundred day moving average price is $89.12. The firm has a market cap of $10.86 billion, a PE ratio of 17.26, a PEG ratio of 3.59 and a beta of 0.53. 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 (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Equities research analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

About Pinnacle West Capital

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.