Amundi Purchases 136,115 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Amundi raised its position in Pinnacle West Capital Co. (NYSE:PNW) by 1,781.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,754 shares of the utilities provider’s stock after purchasing an additional 136,115 shares during the period. Amundi’s holdings in Pinnacle West Capital were worth $12,019,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. increased its stake 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 valued at $1,163,000 after purchasing an additional 116 shares in the last quarter. Fortem Financial Group LLC increased its position in shares of Pinnacle West Capital by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 124 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of Pinnacle West Capital by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after acquiring an additional 127 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of 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 worth $135,000 after acquiring an additional 156 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Pinnacle West Capital by 2.5% during the third quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock worth $593,000 after acquiring an additional 163 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of several research reports. Jefferies Financial Group lowered their price objective on shares of 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. 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 report on Wednesday, December 4th. Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Wells Fargo & Company increased their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.28.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $93.77 on Friday. The firm has a 50-day moving average of $88.36 and a 200-day moving average of $88.58. Pinnacle West Capital Co. has a one year low of $70.26 and a one year high of $95.42. The company has a market cap of $11.17 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating 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 the consensus estimate of $1.06 billion. As a group, equities analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current 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.