Canada Post Corp Registered Pension Plan Makes New $35,000 Investment in Pinnacle West Capital Co. (NYSE:PNW)

Canada Post Corp Registered Pension Plan purchased a new position in Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, HoldingsChannel reports. The firm purchased 418 shares of the utilities provider’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mesirow Financial Investment Management Inc. lifted its position in Pinnacle West Capital by 0.9% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock worth $1,163,000 after purchasing an additional 116 shares during the period. Fortem Financial Group LLC raised its stake in shares of Pinnacle West Capital by 2.2% in the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after buying an additional 124 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Pinnacle West Capital by 0.9% in the fourth 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. Global Retirement Partners LLC boosted its stake in Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock valued at $135,000 after buying an additional 156 shares in the last quarter. Finally, 1620 Investment Advisors Inc. grew its holdings in Pinnacle West Capital by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock worth $397,000 after acquiring an additional 162 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $94.48 on Friday. The company has a market capitalization of $11.26 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 1-year low of $71.99 and a 1-year high of $96.50. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock’s fifty day simple moving average is $92.05 and its 200-day simple moving average is $89.30.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.25. The company had revenue of $1.10 billion for 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%. On average, sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

PNW has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. UBS Group raised their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Jefferies Financial Group cut their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the stock 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.50.

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.