Pictet Asset Management Holding SA Raises Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Pictet Asset Management Holding SA increased its position in Pinnacle West Capital Co. (NYSE:PNW) by 17.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,855,586 shares of the utilities provider’s stock after purchasing an additional 268,951 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Pinnacle West Capital were worth $157,298,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. YANKCOM Partnership bought a new position in shares of Pinnacle West Capital in the 4th quarter worth about $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Pinnacle West Capital in the 4th quarter worth approximately $38,000. Roble Belko & Company Inc bought a new position in shares of Pinnacle West Capital during the fourth quarter worth about $42,000. Transcendent Capital Group LLC acquired a new stake in shares of Pinnacle West Capital in the 4th quarter worth about $46,000. Finally, Allworth Financial LP lifted its position in Pinnacle West Capital by 125.9% in the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 365 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Guggenheim restated a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Morgan Stanley raised their target price on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. UBS Group raised 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, March 21st. Finally, Wells Fargo & Company upped their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.17.

Pinnacle West Capital Trading Up 1.3 %

Shares of NYSE:PNW opened at $94.23 on Friday. The firm has a fifty day moving average of $90.28 and a two-hundred day moving average of $88.97. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $95.42. The firm has a market capitalization of $11.22 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, equities analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal 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.