Norinchukin Bank The Acquires 117 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Norinchukin Bank The boosted its stake in Pinnacle West Capital Co. (NYSE:PNW) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,398 shares of the utilities provider’s stock after buying an additional 117 shares during the period. Norinchukin Bank The’s holdings in Pinnacle West Capital were worth $373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNW. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital in the fourth quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Pinnacle West Capital in the 4th quarter worth approximately $35,000. Brown Lisle Cummings Inc. bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital during the fourth quarter worth $42,000. Finally, Transcendent Capital Group LLC acquired a new position in Pinnacle West Capital in the fourth quarter valued at $46,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Up 1.8 %

NYSE:PNW opened at $94.96 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a one year low of $72.78 and a one year high of $96.50. The company has a market cap of $11.32 billion, a PE ratio of 17.98, a PEG ratio of 3.59 and a beta of 0.42. The firm has a 50-day moving average of $92.36 and a 200-day moving average of $89.39.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. As a group, equities research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays increased their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 1st. Morgan Stanley lifted their target price 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 reduced their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. 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. Finally, Wells Fargo & Company raised 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 analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.