Zurcher Kantonalbank Zurich Cantonalbank Buys 1,307 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pinnacle West Capital Co. (NYSE:PNW) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,446 shares of the utilities provider’s stock after purchasing an additional 1,307 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pinnacle West Capital were worth $2,157,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PNW. Assenagon Asset Management S.A. lifted its stake in Pinnacle West Capital by 221.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock valued at $57,413,000 after purchasing an additional 466,736 shares during the last quarter. Jennison Associates LLC bought a new position in Pinnacle West Capital in the 4th quarter valued at approximately $32,078,000. Reaves W H & Co. Inc. lifted its stake in Pinnacle West Capital by 35.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider’s stock valued at $117,891,000 after purchasing an additional 362,083 shares during the last quarter. Yaupon Capital Management LP bought a new position in Pinnacle West Capital in the 3rd quarter valued at approximately $22,173,000. Finally, Zimmer Partners LP lifted its stake in Pinnacle West Capital by 5.7% in the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after purchasing an additional 155,466 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $93.77 on Monday. Pinnacle West Capital Co. has a twelve month low of $70.73 and a twelve month high of $95.42. The firm has a fifty day simple moving average of $88.36 and a 200 day simple moving average of $88.61. The company has a market capitalization of $11.17 billion, a PE ratio of 17.76, a P/E/G ratio of 3.59 and a beta of 0.53. 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 (NYSE:PNW) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. On average, sell-side analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Guggenheim reaffirmed a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research note on Wednesday, December 4th. Citigroup raised their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised 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. Finally, Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.28.

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.