New Age Alpha Advisors LLC Buys New Position in Pinnacle West Capital Co. (NYSE:PNW)

New Age Alpha Advisors LLC purchased a new position in Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 35,687 shares of the utilities provider’s stock, valued at approximately $3,025,000.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Pinnacle West Capital by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider’s stock valued at $1,202,116,000 after purchasing an additional 143,716 shares during the period. State Street Corp boosted its position in Pinnacle West Capital by 0.9% in the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock valued at $567,394,000 after buying an additional 56,644 shares during the last quarter. Zimmer Partners LP grew its stake in shares of Pinnacle West Capital by 5.7% during the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after acquiring an additional 155,466 shares in the last quarter. Norges Bank purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth about $194,655,000. Finally, Reaves W H & Co. Inc. lifted its stake in shares of 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 acquiring an additional 362,083 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PNW. Morgan Stanley lifted their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Jefferies Financial Group dropped their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. UBS Group upped their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Citigroup raised their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.17.

Pinnacle West Capital Stock Up 1.3 %

NYSE:PNW opened at $94.23 on Friday. The firm has a market capitalization of $11.22 billion, a PE ratio of 17.85, 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. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average of $90.28 and a 200-day moving average of $88.96.

Pinnacle West Capital (NYSE:PNW) last issued its 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 firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Analysts predict that Pinnacle West Capital Co. will post 5.13 EPS 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.