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

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

Other institutional investors have also made changes to their positions in the company. Mesirow Financial Investment Management Inc. increased its stake in Pinnacle West Capital by 0.9% in 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 buying an additional 116 shares during the last quarter. Fortem Financial Group LLC increased its position in shares of Pinnacle West Capital by 2.2% in the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after acquiring an additional 124 shares during the last quarter. New York Life Investment Management LLC raised its holdings in Pinnacle West Capital by 0.9% during 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 boosted its position in Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock valued at $135,000 after purchasing an additional 156 shares during the last quarter. Finally, 1620 Investment Advisors Inc. grew its stake in Pinnacle West Capital by 3.6% in the fourth 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. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PNW. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Wells Fargo & Company increased 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 research note on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. KeyCorp upgraded 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. Finally, UBS Group boosted their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Moderate Buy” and an average target price of $95.17.

Pinnacle West Capital Trading Up 1.3 %

Shares of PNW stock opened at $94.23 on Monday. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $95.42. The firm has a 50 day moving average price of $90.28 and a two-hundred day moving average price of $88.96. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company 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 (NYSE:PNW) last released its quarterly 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 business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations 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, analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share 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.