Pacer Advisors Inc. Buys 43,441 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Pacer Advisors Inc. increased its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 604.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,631 shares of the utilities provider's stock after purchasing an additional 43,441 shares during the period. Pacer Advisors Inc.'s holdings in Pinnacle West Capital were worth $3,637,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PNW. Vanguard Group Inc. raised its stake in shares of Pinnacle West Capital by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 13,338,202 shares of the utilities provider's stock worth $1,041,714,000 after buying an additional 241,019 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Pinnacle West Capital by 2.7% in the 1st quarter. BlackRock Inc. now owns 10,307,741 shares of the utilities provider's stock worth $816,785,000 after acquiring an additional 273,945 shares during the last quarter. State Street Corp grew its holdings in shares of Pinnacle West Capital by 1.0% in the 3rd quarter. State Street Corp now owns 7,634,622 shares of the utilities provider's stock worth $492,509,000 after acquiring an additional 74,164 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Pinnacle West Capital by 29.6% in the 1st quarter. Invesco Ltd. now owns 3,537,942 shares of the utilities provider's stock worth $276,313,000 after acquiring an additional 808,207 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Pinnacle West Capital in the 4th quarter worth $104,067,000. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Up 0.9 %

Shares of NYSE:PNW traded up $0.70 on Friday, reaching $74.73. The company had a trading volume of 903,242 shares, compared to its average volume of 1,370,521. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $86.03. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $8.48 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.08 and a beta of 0.48. The stock has a 50-day moving average price of $69.98 and a 200 day moving average price of $72.42.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PNW shares. Guggenheim upgraded Pinnacle West Capital from a "neutral" rating to a "buy" rating and set a $78.00 price target on the stock in a report on Monday, January 22nd. Wells Fargo & Company reduced their price objective on Pinnacle West Capital from $78.00 to $74.00 and set an "equal weight" rating for the company in a research report on Friday, January 26th. Evercore ISI reduced their price objective on Pinnacle West Capital from $76.00 to $69.00 and set an "in-line" rating for the company in a research report on Monday, March 4th. UBS Group raised Pinnacle West Capital from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $68.00 to $71.00 in a research report on Monday, March 11th. Finally, StockNews.com cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $72.91.

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.