Sequoia Financial Advisors LLC Acquires 412 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Sequoia Financial Advisors LLC lifted its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 14.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,260 shares of the utilities provider’s stock after acquiring an additional 412 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Pinnacle West Capital were worth $276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. YANKCOM Partnership bought a new stake in Pinnacle West Capital during the 4th quarter valued at $29,000. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital in the 4th quarter worth $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital in the 4th quarter worth $42,000. Prospera Private Wealth LLC bought a new position in Pinnacle West Capital in the 3rd quarter worth $43,000. Finally, Transcendent Capital Group LLC bought a new position in Pinnacle West Capital in the 4th quarter worth $46,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PNW. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “strong-buy” rating in a research report on Monday. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research report on Wednesday, December 4th. Jefferies Financial Group reduced their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.81.

Pinnacle West Capital Price Performance

PNW opened at $94.23 on Thursday. The company’s 50-day simple moving average is $89.00 and its two-hundred day simple moving average is $88.74. Pinnacle West Capital Co. has a 52-week low of $70.73 and a 52-week 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. The stock has a market capitalization of $11.22 billion, a P/E ratio of 17.85, a P/E/G ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data 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. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. As a group, analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

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.