Mather Group LLC. Boosts Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Mather Group LLC. increased its position in Pinnacle West Capital Co. (NYSE:PNW) by 66.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,232 shares of the utilities provider’s stock after purchasing an additional 891 shares during the quarter. Mather Group LLC.’s holdings in Pinnacle West Capital were worth $198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PNW. Capital Research Global Investors boosted its position in Pinnacle West Capital by 97.5% in the 1st quarter. Capital Research Global Investors now owns 12,851,930 shares of the utilities provider’s stock valued at $960,425,000 after buying an additional 6,344,121 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Pinnacle West Capital by 72.7% in the first quarter. Lazard Asset Management LLC now owns 6,719,397 shares of the utilities provider’s stock worth $502,139,000 after acquiring an additional 2,828,450 shares in the last quarter. Zimmer Partners LP purchased a new position in Pinnacle West Capital in the first quarter valued at about $198,409,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Pinnacle West Capital by 24.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider’s stock valued at $533,562,000 after purchasing an additional 1,379,368 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Pinnacle West Capital by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 845,137 shares of the utilities provider’s stock valued at $64,550,000 after purchasing an additional 200,816 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PNW has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on Pinnacle West Capital from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley raised their price objective on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Barclays reduced their price target on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group assumed coverage on Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus target price of $80.54.

Pinnacle West Capital Trading Up 0.4 %

Shares of NYSE PNW opened at $85.90 on Friday. Pinnacle West Capital Co. has a 12-month low of $65.20 and a 12-month high of $91.57. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 2.20 and a beta of 0.52. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 1.28. The stock’s 50 day simple moving average is $87.84 and its 200 day simple moving average is $80.59.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.45. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the business posted $0.94 earnings per share. Equities research analysts expect that Pinnacle West Capital Co. will post 4.77 EPS for the current year.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $85.80, for a total value of $424,710.00. Following the sale, the executive vice president now owns 6,397 shares in the company, valued at approximately $548,862.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by company insiders.

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.