Jones Financial Companies Lllp Purchases 466 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Jones Financial Companies Lllp grew its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 76.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,075 shares of the utilities provider’s stock after buying an additional 466 shares during the quarter. Jones Financial Companies Lllp’s holdings in Pinnacle West Capital were worth $91,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. lifted its holdings in shares of Pinnacle West Capital by 4.7% during the 4th quarter. QRG Capital Management Inc. now owns 70,121 shares of the utilities provider’s stock valued at $5,944,000 after buying an additional 3,162 shares during the period. Versor Investments LP lifted its holdings in shares of Pinnacle West Capital by 41.9% during the 4th quarter. Versor Investments LP now owns 17,023 shares of the utilities provider’s stock valued at $1,443,000 after buying an additional 5,023 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at $3,528,000. New York Life Investment Management LLC lifted its holdings in shares of Pinnacle West Capital by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock valued at $1,264,000 after buying an additional 127 shares during the period. Finally, Transcendent Capital Group LLC bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at $46,000. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PNW. Jefferies Financial Group decreased their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley decreased their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a report on Wednesday, December 4th. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.28.

Pinnacle West Capital Trading Up 2.1 %

Shares of PNW stock opened at $93.77 on Monday. Pinnacle West Capital Co. has a 52-week low of $70.73 and a 52-week high of $95.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm has a market capitalization of $11.17 billion, a PE ratio of 17.76, a PEG ratio of 3.59 and a beta of 0.53. The stock has a fifty day simple moving average of $88.36 and a two-hundred day simple moving average of $88.61.

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