Farringdon Capital Ltd. Takes $972,000 Position in Pinnacle West Capital Co. (NYSE:PNW)

Farringdon Capital Ltd. acquired a new position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,464 shares of the utilities provider's stock, valued at approximately $972,000.

Other hedge funds have also bought and sold shares of the company. Mesirow Financial Investment Management Inc. grew its stake in shares of Pinnacle West Capital by 0.9% during 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 buying an additional 116 shares during the last quarter. Fortem Financial Group LLC boosted its stake 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 valued at $485,000 after purchasing an additional 124 shares during the period. New York Life Investment Management LLC grew 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 worth $1,264,000 after purchasing an additional 127 shares during the last quarter. Global Retirement Partners LLC increased its stake in Pinnacle West Capital by 10.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock worth $135,000 after buying an additional 156 shares during the period. Finally, 1620 Investment Advisors Inc. grew its stake in Pinnacle West Capital by 3.6% in the 4th 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 in the last quarter. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock traded up $2.18 on Tuesday, reaching $95.42. The company's stock had a trading volume of 180,638 shares, compared to its average volume of 1,081,603. The stock has a 50-day moving average price of $92.25 and a 200-day moving average price of $89.36. Pinnacle West Capital Co. has a 52-week low of $72.78 and a 52-week high of $96.50. The company has a market capitalization of $11.38 billion, a P/E ratio of 18.10, a PEG ratio of 3.59 and a beta of 0.42. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Analyst Ratings Changes

PNW has been the topic of several research analyst reports. UBS Group increased their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. 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 note on Tuesday, January 28th. Wells Fargo & Company raised their target price on shares of 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. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "strong-buy" rating in a report on Monday, March 17th. Finally, Morgan Stanley increased their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Six 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.50.

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.