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 shares of Pinnacle West Capital Co. (NYSE:PNW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 35,687 shares of the utilities provider’s stock, valued at approximately $3,025,000.

A number of other institutional investors also recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. boosted its stake in Pinnacle West Capital by 0.9% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock valued at $1,163,000 after purchasing an additional 116 shares in the last quarter. Fortem Financial Group LLC grew its holdings in Pinnacle West Capital by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 124 shares during the period. New York Life Investment Management LLC raised its position in Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after acquiring an additional 127 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Pinnacle West Capital by 10.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 156 shares during the last quarter. Finally, 1620 Investment Advisors Inc. boosted its position in shares of Pinnacle West Capital by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock valued at $397,000 after purchasing an additional 162 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Up 1.3 %

Pinnacle West Capital stock opened at $94.23 on Friday. The firm’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. Pinnacle West Capital Co. has a twelve month low of $70.73 and a twelve month high of $95.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

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, research analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PNW. KeyCorp raised shares of 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. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Citigroup boosted their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Guggenheim reissued a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their price objective 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. Six 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. According to data from MarketBeat, Pinnacle West Capital currently has an average rating of “Moderate Buy” and an average price target of $95.17.

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.