UniSuper Management Pty Ltd Has $1.61 Million Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

UniSuper Management Pty Ltd boosted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 26.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,948 shares of the utilities provider’s stock after acquiring an additional 3,935 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Pinnacle West Capital were worth $1,606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its holdings in shares of Pinnacle West Capital by 14.7% in the third quarter. Daiwa Securities Group Inc. now owns 5,238 shares of the utilities provider’s stock valued at $464,000 after purchasing an additional 672 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Pinnacle West Capital by 73.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 200,755 shares of the utilities provider’s stock valued at $17,785,000 after buying an additional 84,887 shares during the period. Glenmede Trust Co. NA raised its position in shares of Pinnacle West Capital by 2.5% during the third quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock worth $593,000 after acquiring an additional 163 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Pinnacle West Capital by 7.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,139 shares of the utilities provider’s stock valued at $2,138,000 after acquiring an additional 1,733 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in Pinnacle West Capital by 2.6% in the third quarter. Public Sector Pension Investment Board now owns 19,803 shares of the utilities provider’s stock valued at $1,754,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

PNW stock opened at $94.23 on Monday. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $95.42. The business’s 50-day moving average price is $90.28 and its two-hundred day moving average price is $88.96. The firm has a market cap of $11.22 billion, a PE ratio of 17.85, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.25. The business had revenue of $1.10 billion during 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%. As a group, research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Citigroup raised their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group dropped their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research report on Wednesday, December 4th. Finally, UBS Group lifted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Six equities research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.17.

Pinnacle West Capital Company 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.