National Bank of Canada FI Acquires 65,781 Shares of Pinnacle West Capital Co. (NYSE:PNW)

National Bank of Canada FI lifted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 114.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,258 shares of the utilities provider’s stock after buying an additional 65,781 shares during the quarter. National Bank of Canada FI owned about 0.11% of Pinnacle West Capital worth $10,456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PNW. YANKCOM Partnership bought a new position in shares of Pinnacle West Capital in the 4th quarter worth $29,000. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital during the fourth quarter worth about $38,000. Roble Belko & Company Inc bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at about $42,000. Transcendent Capital Group LLC acquired a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $46,000. Finally, Allworth Financial LP raised its position in shares of Pinnacle West Capital by 125.9% in the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 365 shares during the period. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Trading Down 4.3 %

Shares of Pinnacle West Capital stock opened at $91.15 on Friday. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $96.50. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average is $91.09 and its 200-day moving average is $89.12. The stock has a market cap of $10.86 billion, a P/E ratio of 17.26, a P/E/G ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. 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

Several equities research analysts have commented on PNW shares. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Morgan Stanley increased their price target on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Jefferies Financial Group cut their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Barclays increased their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 1st. Finally, Guggenheim reiterated a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.50.

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.