Jones Financial Companies Lllp Acquires 466 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Jones Financial Companies Lllp raised its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 76.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,075 shares of the utilities provider’s stock after purchasing an additional 466 shares during the period. Jones Financial Companies Lllp’s holdings in Pinnacle West Capital were worth $91,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNW. Principal Financial Group Inc. raised its position in Pinnacle West Capital by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock valued at $12,336,000 after purchasing an additional 9,993 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Pinnacle West Capital during the 3rd quarter worth approximately $905,000. KBC Group NV grew its holdings in shares of Pinnacle West Capital by 21.4% during the 3rd quarter. KBC Group NV now owns 2,967 shares of the utilities provider’s stock worth $263,000 after acquiring an additional 524 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Pinnacle West Capital by 8.0% during the 3rd quarter. CIBC Asset Management Inc now owns 15,737 shares of the utilities provider’s stock worth $1,394,000 after acquiring an additional 1,163 shares during the period. Finally, Natixis Advisors LLC grew its holdings in shares of Pinnacle West Capital by 1.5% during the 3rd quarter. Natixis Advisors LLC now owns 23,221 shares of the utilities provider’s stock worth $2,057,000 after acquiring an additional 342 shares during the period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $93.77 on Monday. The stock’s 50 day moving average is $88.36 and its 200 day moving average is $88.61. 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 Co. has a twelve month low of $70.73 and a twelve month high of $95.42. The company has a market capitalization of $11.17 billion, a P/E ratio of 17.76, a PEG ratio of 3.59 and a beta of 0.53.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup upped their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a report on Wednesday, December 4th. Morgan Stanley reduced their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Guggenheim reiterated a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.28.

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.