American Century Companies Inc. Buys 2,665 Shares of Pinnacle West Capital Co. (NYSE:PNW)

American Century Companies Inc. raised its stake in Pinnacle West Capital Co. (NYSE:PNW) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 129,333 shares of the utilities provider’s stock after acquiring an additional 2,665 shares during the period. American Century Companies Inc. owned approximately 0.11% of Pinnacle West Capital worth $10,964,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth about $29,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Pinnacle West Capital during the 4th quarter worth approximately $38,000. Roble Belko & Company Inc bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at approximately $42,000. Transcendent Capital Group LLC purchased a new position in shares of Pinnacle West Capital in the fourth quarter valued at $46,000. Finally, Allworth Financial LP increased its position in Pinnacle West Capital by 125.9% in the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.2 %

NYSE PNW opened at $95.47 on Thursday. The company’s 50-day simple moving average is $90.79 and its two-hundred day simple moving average is $89.08. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $95.84. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Equities analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Wells Fargo & Company lifted their price target on 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. Jefferies Financial Group decreased their price objective on 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. Barclays lifted their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.50.

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.