Skandinaviska Enskilda Banken AB publ Takes Position in Pinnacle West Capital Co. (NYSE:PNW)

Skandinaviska Enskilda Banken AB publ acquired a new position in Pinnacle West Capital Co. (NYSE:PNW) in the 4th quarter, Holdings Channel reports. The firm acquired 13,886 shares of the utilities provider’s stock, valued at approximately $1,178,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV grew its holdings in shares of Pinnacle West Capital by 21.4% during the 3rd quarter. KBC Group NV now owns 2,967 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 524 shares during the period. CIBC Asset Management Inc boosted its stake in Pinnacle West Capital by 8.0% during the third quarter. CIBC Asset Management Inc now owns 15,737 shares of the utilities provider’s stock worth $1,394,000 after buying an additional 1,163 shares during the period. Natixis Advisors LLC increased its position in shares of Pinnacle West Capital by 1.5% during the third quarter. Natixis Advisors LLC now owns 23,221 shares of the utilities provider’s stock valued at $2,057,000 after acquiring an additional 342 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at approximately $2,532,000. Finally, Verity & Verity LLC lifted its holdings in shares of Pinnacle West Capital by 0.4% in the 3rd quarter. Verity & Verity LLC now owns 90,286 shares of the utilities provider’s stock worth $7,998,000 after acquiring an additional 354 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company 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 research note on Wednesday, December 4th. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $93.00 to $91.00 in a report on Monday, November 18th. Jefferies Financial Group reduced their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Citigroup lifted their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $92.28.

Pinnacle West Capital Trading Up 0.5 %

NYSE PNW opened at $94.15 on Tuesday. Pinnacle West Capital Co. has a 52 week low of $70.73 and a 52 week high of $95.42. The firm has a 50 day moving average of $88.58 and a two-hundred day moving average of $88.66. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $11.21 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.06 billion. As a group, research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal 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.