Riverwater Partners LLC Has $1.21 Million Stake in Pinnacle West Capital Co. (NYSE:PNW)

Riverwater Partners LLC grew its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,259 shares of the utilities provider’s stock after purchasing an additional 333 shares during the period. Riverwater Partners LLC’s holdings in Pinnacle West Capital were worth $1,209,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. YANKCOM Partnership acquired a new stake in Pinnacle West Capital during the fourth quarter worth approximately $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $38,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital during the 4th quarter worth $42,000. Transcendent Capital Group LLC bought a new position in shares of Pinnacle West Capital in the fourth quarter worth $46,000. Finally, Allworth Financial LP raised its stake in Pinnacle West Capital by 125.9% in the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 365 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PNW shares. Barclays increased their price objective on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Jefferies Financial Group decreased their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. UBS Group upped their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Guggenheim reiterated a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, Morgan Stanley upped their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Six investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.50.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $91.15 on Friday. The stock has a 50-day moving average price of $91.09 and a two-hundred day moving average price of $89.12. Pinnacle West Capital Co. has a 12 month low of $70.73 and a 12 month high of $96.50. The company has a market capitalization of $10.86 billion, a PE ratio of 17.26, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS 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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Analysts expect 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.