1620 Investment Advisors Inc. Has $397,000 Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

1620 Investment Advisors Inc. increased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,683 shares of the utilities provider’s stock after buying an additional 162 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Pinnacle West Capital were worth $397,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PNW. State Street Corp raised its stake in shares of Pinnacle West Capital by 0.9% in the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock valued at $567,394,000 after purchasing an additional 56,644 shares during the period. Zimmer Partners LP raised its stake in shares of Pinnacle West Capital by 5.7% in the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after purchasing an additional 155,466 shares during the period. Reaves W H & Co. Inc. raised its stake in shares of Pinnacle West Capital by 35.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider’s stock valued at $117,891,000 after purchasing an additional 362,083 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Pinnacle West Capital by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,031,190 shares of the utilities provider’s stock valued at $87,414,000 after purchasing an additional 3,102 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Pinnacle West Capital by 1.6% in the 3rd quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider’s stock valued at $64,851,000 after purchasing an additional 11,208 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.1 %

Shares of NYSE:PNW opened at $94.25 on Friday. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $95.42. The stock has a market cap of $11.23 billion, a PE ratio of 17.85, a P/E/G ratio of 3.59 and a beta of 0.53. The business has a 50 day moving average of $89.22 and a 200-day moving average of $88.77. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

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

Wall Street Analysts Forecast Growth

PNW has been the subject of several analyst reports. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a report on Monday. Morgan Stanley raised their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday. Citigroup raised their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group decreased their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. 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 report on Wednesday, February 26th. Five equities research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.69.

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.