Amundi Buys 136,115 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Amundi increased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1,781.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 143,754 shares of the utilities provider’s stock after acquiring an additional 136,115 shares during the period. Amundi owned about 0.13% of Pinnacle West Capital worth $12,019,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. HITE Hedge Asset Management LLC boosted its position in shares of Pinnacle West Capital by 261.2% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock valued at $8,178,000 after acquiring an additional 66,755 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Pinnacle West Capital during the 3rd quarter valued at about $2,235,000. Principal Financial Group Inc. boosted its position in shares of Pinnacle West Capital by 7.7% during the 3rd 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 acquiring an additional 3,758 shares in the last quarter. Finally, Bridgewater Associates LP boosted its position in shares of Pinnacle West Capital by 104.5% during the 3rd quarter. Bridgewater Associates LP now owns 101,970 shares of the utilities provider’s stock valued at $9,034,000 after acquiring an additional 52,095 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Up 2.1 %

PNW opened at $93.77 on Friday. 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 cap of $11.17 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The firm has a 50 day simple moving average of $88.36 and a 200 day simple moving average of $88.58. Pinnacle West Capital Co. has a fifty-two week low of $70.26 and a fifty-two week high of $95.42.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The business 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%. On average, sell-side analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PNW. Guggenheim reiterated a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Wells Fargo & Company boosted 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. Jefferies Financial Group reduced their price target on shares of 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 lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.28.

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.