Swiss National Bank Raises Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Swiss National Bank increased its position in Pinnacle West Capital Co. (NYSE:PNW) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,400 shares of the utilities provider’s stock after purchasing an additional 1,600 shares during the period. Swiss National Bank’s holdings in Pinnacle West Capital were worth $18,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNW. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $29,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $38,000. Prospera Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital in the third quarter worth $43,000. Roble Belko & Company Inc purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $42,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $46,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Trading Down 1.0 %

Pinnacle West Capital stock opened at $93.33 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $95.42. The stock has a market capitalization of $11.12 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The business’s fifty day moving average is $88.79 and its 200 day moving average is $88.70.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PNW shares. Citigroup increased their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group cut their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley cut their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Guggenheim reissued a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and an average target price of $93.81.

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.