Cibc World Markets Corp Buys 4,002 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Cibc World Markets Corp raised its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 45.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,804 shares of the utilities provider’s stock after acquiring an additional 4,002 shares during the quarter. Cibc World Markets Corp’s holdings in Pinnacle West Capital were worth $1,085,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $29,000. Brown Lisle Cummings Inc. purchased a new position in Pinnacle West Capital during the 4th quarter valued at about $38,000. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital during the fourth quarter worth about $42,000. Prospera Private Wealth LLC purchased a new stake in Pinnacle West Capital in the third quarter worth about $43,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Pinnacle West Capital during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PNW. Guggenheim reissued a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. 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. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. UBS Group increased their price objective 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. Finally, Morgan Stanley raised their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.17.

Pinnacle West Capital Stock Down 0.6 %

Shares of Pinnacle West Capital stock opened at $93.67 on Friday. Pinnacle West Capital Co. has a twelve month low of $70.73 and a twelve month high of $95.42. 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 company’s 50 day moving average is $89.46 and its 200 day moving average is $88.82. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last released its quarterly 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 for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current 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.