Russell Investments Group Ltd. Boosts Stake in Pinnacle West Capital Co. (NYSE:PNW)

Russell Investments Group Ltd. lifted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 19.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 534,932 shares of the utilities provider’s stock after acquiring an additional 86,055 shares during the quarter. Russell Investments Group Ltd.’s holdings in Pinnacle West Capital were worth $45,355,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PNW. XTX Topco Ltd purchased a new stake in Pinnacle West Capital during the 3rd quarter worth approximately $2,235,000. Principal Financial Group Inc. increased its stake in shares of Pinnacle West Capital by 7.7% in the third quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock worth $12,336,000 after buying an additional 9,993 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Pinnacle West Capital by 47.2% in the fourth 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. Blue Trust Inc. boosted its stake 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 acquiring an additional 360 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Pinnacle West Capital by 14.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider’s stock worth $363,000 after acquiring an additional 545 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PNW shares. UBS Group increased their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Wells Fargo & Company upped their price target on 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. Barclays raised their price objective 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, Jefferies Financial Group dropped their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. 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 company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Moderate Buy” and an average target price of $95.50.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $91.15 on Monday. 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 firm has a market capitalization of $10.86 billion, a PE ratio of 17.26, a P/E/G ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $96.50. The business’s fifty day moving average price is $91.09 and its two-hundred day moving average price is $89.11.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data 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 for 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%. On average, research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

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.