Alliancebernstein L.P. Grows Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Alliancebernstein L.P. raised its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,943 shares of the utilities provider’s stock after purchasing an additional 11,635 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Pinnacle West Capital worth $13,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at $29,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $38,000. Roble Belko & Company Inc acquired a new stake in Pinnacle West Capital during the 4th quarter valued at approximately $42,000. Transcendent Capital Group LLC acquired a new stake in Pinnacle West Capital during the 4th quarter valued at approximately $46,000. Finally, Allworth Financial LP lifted its holdings in Pinnacle West Capital by 125.9% during the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock worth $56,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW stock opened at $90.89 on Thursday. The stock has a 50-day moving average price of $91.39 and a two-hundred day moving average price of $89.12. The stock has a market cap of $10.82 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 1 year low of $70.73 and a 1 year high of $96.50.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Equities analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on PNW shares. Wells Fargo & Company raised their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. 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. UBS Group raised their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Barclays lifted their price objective on 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. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average 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.