Swiss National Bank Raises Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Swiss National Bank lifted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,400 shares of the utilities provider’s stock after purchasing an additional 1,600 shares during the quarter. Swiss National Bank owned 0.20% of Pinnacle West Capital worth $18,938,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp grew its holdings in shares of Pinnacle West Capital by 0.9% during the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock worth $567,394,000 after purchasing an additional 56,644 shares in the last quarter. Zimmer Partners LP boosted its stake in Pinnacle West Capital by 5.7% in the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after buying an additional 155,466 shares in the last quarter. Reaves W H & Co. Inc. boosted its stake in Pinnacle West Capital by 35.2% in 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 buying an additional 362,083 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Pinnacle West Capital by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,031,190 shares of the utilities provider’s stock worth $87,414,000 after buying an additional 3,102 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in Pinnacle West Capital by 1.6% in the third quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider’s stock worth $64,851,000 after buying an additional 11,208 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PNW. Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Morgan Stanley cut their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Wells Fargo & Company boosted their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Citigroup boosted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $93.81.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $93.33 on Wednesday. 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 company has a market cap of $11.12 billion, a PE ratio of 17.68, a P/E/G ratio of 3.59 and a beta of 0.53. The business has a 50 day moving average of $88.79 and a 200 day moving average of $88.70. 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 issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share 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 analysts’ expectations of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. As a group, equities research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share 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.