Teacher Retirement System of Texas Buys 10,326 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Teacher Retirement System of Texas boosted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 58.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,975 shares of the utilities provider’s stock after buying an additional 10,326 shares during the quarter. Teacher Retirement System of Texas’ holdings in Pinnacle West Capital were worth $2,371,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital during the fourth quarter valued at approximately $29,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Pinnacle West Capital in the 4th quarter worth $38,000. Roble Belko & Company Inc bought a new position in shares of Pinnacle West Capital during the 4th quarter worth $42,000. Transcendent Capital Group LLC purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at $46,000. Finally, Allworth Financial LP raised its holdings in shares of Pinnacle West Capital by 125.9% in the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 365 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $92.90 on Thursday. Pinnacle West Capital Co. has a fifty-two week low of $70.73 and a fifty-two week high of $95.42. The company has a market cap of $11.06 billion, a PE ratio of 17.59, a P/E/G ratio of 3.59 and a beta of 0.53. 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 business has a 50-day simple moving average of $90.00 and a two-hundred day simple moving average of $88.91.

Pinnacle West Capital (NYSE:PNW) last released its earnings results 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 net margin of 12.26% and a return on equity of 9.60%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. As a group, equities analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PNW. UBS Group raised their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Jefferies Financial Group dropped their target price on 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. Citigroup boosted their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price objective 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. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.17.

About Pinnacle West Capital

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.