Polymer Capital Management US LLC Makes New $1.66 Million Investment in Pinnacle West Capital Co. (NYSE:PNW)

Polymer Capital Management US LLC purchased a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,587 shares of the utilities provider’s stock, valued at approximately $1,660,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. raised its holdings in shares of Pinnacle West Capital by 0.9% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock valued at $1,163,000 after purchasing an additional 116 shares in the last quarter. Fortem Financial Group LLC raised its stake in Pinnacle West Capital by 2.2% in the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after buying an additional 124 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in Pinnacle West Capital by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after buying an additional 127 shares during the period. Global Retirement Partners LLC boosted its position in Pinnacle West Capital by 10.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 156 shares in the last quarter. Finally, 1620 Investment Advisors Inc. increased its holdings in shares of Pinnacle West Capital by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock valued at $397,000 after acquiring an additional 162 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group upped their price objective 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 restated a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Morgan Stanley boosted their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Barclays increased their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company lifted their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.50.

Pinnacle West Capital Price Performance

NYSE PNW opened at $91.15 on Monday. The stock’s fifty day moving average price is $91.09 and its 200 day moving average price is $89.11. Pinnacle West Capital Co. has a 1 year low of $70.73 and a 1 year high of $96.50. 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 $10.86 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW) last announced 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 firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. As a group, equities research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share 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.