Barclays PLC Buys 307,131 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Barclays PLC increased its stake in Pinnacle West Capital Co. (NYSE:PNW) by 151.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 510,494 shares of the utilities provider’s stock after purchasing an additional 307,131 shares during the period. Barclays PLC owned 0.45% of Pinnacle West Capital worth $43,272,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Pinnacle West Capital by 7.7% during the third quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock valued at $12,336,000 after acquiring an additional 9,993 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Pinnacle West Capital by 47.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider’s stock valued at $995,000 after purchasing an additional 3,758 shares during the period. Blue Trust Inc. lifted its position in Pinnacle West Capital by 33.3% during the 4th quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 360 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Pinnacle West Capital by 14.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider’s stock valued at $363,000 after purchasing an additional 545 shares during the last quarter. Finally, MCF Advisors LLC raised its stake in shares of Pinnacle West Capital by 200.6% during the fourth quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider’s stock worth $522,000 after buying an additional 4,107 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

NYSE PNW opened at $94.48 on Friday. 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 Co. has a 52-week low of $71.99 and a 52-week high of $96.50. The business has a 50 day simple moving average of $92.05 and a 200 day simple moving average of $89.30. The stock has a market cap of $11.26 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 3.59 and a beta of 0.42.

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. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Jefferies Financial Group reduced 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. Guggenheim reiterated a “buy” rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. UBS Group increased their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Barclays boosted their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.50.

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.