Vanguard Group Inc. Has $1.20 Billion Stake in Pinnacle West Capital Co. (NYSE:PNW)

Vanguard Group Inc. raised its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm 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 12.47% of Pinnacle West Capital worth $1,202,116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mesirow Financial Investment Management Inc. boosted its stake in Pinnacle West Capital by 0.9% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock valued at $1,163,000 after purchasing an additional 116 shares during the last quarter. Fortem Financial Group LLC increased its position in shares of Pinnacle West Capital by 2.2% during the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 124 shares during the last quarter. New York Life Investment Management LLC raised its position in Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after acquiring an additional 127 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Pinnacle West Capital by 10.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 156 shares during the period. Finally, 1620 Investment Advisors Inc. raised its stake in shares of Pinnacle West Capital by 3.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock valued at $397,000 after buying an additional 162 shares during the period. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PNW has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. Morgan Stanley lifted their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. UBS Group upped their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, KeyCorp raised 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. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.17.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $93.01 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $95.42. The business’s 50 day simple moving average is $90.13 and its two-hundred day simple moving average is $88.94. The stock has a market capitalization of $11.08 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) 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 the consensus estimate of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current 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.