Commonwealth Equity Services LLC Purchases 1,425 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Commonwealth Equity Services LLC increased its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 3.4% during the 4th quarter, HoldingsChannel reports. The firm owned 43,323 shares of the utilities provider’s stock after buying an additional 1,425 shares during the period. Commonwealth Equity Services LLC’s holdings in Pinnacle West Capital were worth $3,672,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Pinnacle West Capital during the 4th quarter valued at about $1,178,000. Vestcor Inc raised its position in Pinnacle West Capital by 13.5% during the fourth quarter. Vestcor Inc now owns 21,514 shares of the utilities provider’s stock valued at $1,824,000 after purchasing an additional 2,564 shares during the period. Swiss National Bank lifted its stake in shares of Pinnacle West Capital by 0.7% in the 4th quarter. Swiss National Bank now owns 223,400 shares of the utilities provider’s stock valued at $18,938,000 after purchasing an additional 1,600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Pinnacle West Capital by 332.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,224 shares of the utilities provider’s stock worth $14,091,000 after purchasing an additional 127,794 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in shares of Pinnacle West Capital by 14.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,260 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Down 0.8 %

Shares of NYSE:PNW opened at $93.01 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average is $89.67 and its 200 day moving average is $88.85. The stock has a market cap 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 Co. has a 52-week low of $70.73 and a 52-week high of $95.42.

Pinnacle West Capital (NYSE:PNW) last posted 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%. Sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Wall Street Analyst Weigh In

Several research 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 price objective for the company in a research note on Wednesday, December 4th. Citigroup upped their price target on shares of 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 raised their price objective 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. UBS Group upped their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday. Finally, LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of “Moderate Buy” and a consensus price target of $95.17.

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.