Fox Run Management L.L.C. Takes Position in Pinnacle West Capital Co. (NYSE:PNW)

Fox Run Management L.L.C. acquired a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 14,710 shares of the utilities provider’s stock, valued at approximately $1,247,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Natixis Advisors LLC raised its stake in shares of Pinnacle West Capital by 1.5% in the 3rd quarter. Natixis Advisors LLC now owns 23,221 shares of the utilities provider’s stock valued at $2,057,000 after acquiring an additional 342 shares during the period. PNC Financial Services Group Inc. increased its holdings in Pinnacle West Capital by 3.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 65,736 shares of the utilities provider’s stock valued at $5,824,000 after purchasing an additional 2,433 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Pinnacle West Capital in the third quarter valued at approximately $43,000. Charles Schwab Investment Management Inc. lifted its stake in Pinnacle West Capital by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock worth $91,078,000 after purchasing an additional 5,066 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Pinnacle West Capital by 285.1% during the third quarter. Larson Financial Group LLC now owns 4,502 shares of the utilities provider’s stock worth $399,000 after buying an additional 3,333 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PNW shares. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Jefferies Financial Group lowered their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. UBS Group increased their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Citigroup lifted their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.17.

Pinnacle West Capital Trading Down 0.6 %

NYSE PNW opened at $93.67 on Friday. The firm’s fifty day moving average price is $89.46 and its 200 day moving average price is $88.82. Pinnacle West Capital Co. has a 12 month low of $70.73 and a 12 month high of $95.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth 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 (EPS) for the quarter, topping 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. On average, sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

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.