Harvest Fund Management Co. Ltd Takes Position in Pinnacle West Capital Co. (NYSE:PNW)

Harvest Fund Management Co. Ltd acquired a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,018 shares of the utilities provider’s stock, valued at approximately $764,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. YANKCOM Partnership bought a new position in Pinnacle West Capital during the 4th quarter valued at approximately $29,000. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital during the 4th quarter valued at approximately $38,000. Prospera Private Wealth LLC bought a new position in Pinnacle West Capital during the 3rd quarter valued at approximately $43,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital during the 4th quarter valued at approximately $42,000. Finally, Transcendent Capital Group LLC bought a new position in Pinnacle West Capital during the 4th quarter valued at approximately $46,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $94.25 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 firm has a market capitalization of $11.23 billion, a P/E ratio of 17.85, a PEG ratio of 3.59 and a beta of 0.53. The business has a fifty day moving average of $89.22 and a 200 day moving average of $88.77.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. As a group, sell-side analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Morgan Stanley lifted their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday. Citigroup lifted their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, 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 report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Pinnacle West Capital currently has an average rating of “Moderate Buy” and a consensus price target of $94.69.

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.