First Command Bank Continues to Hold Stake in Pinnacle West Capital Co. (PNW)

First Command Bank continued to hold its position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the first quarter, Holdings Channel reports. The fund owned 1,557 shares of the company’s stock at the end of the first quarter. First Command Bank’s holdings in Pinnacle West Capital were worth $130,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its stake in Pinnacle West Capital by 3.4% in the first quarter. Bank of Montreal Can now owns 329,459 shares of the company’s stock valued at $27,470,000 after buying an additional 10,835 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in Pinnacle West Capital by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 34,675 shares of the company’s stock valued at $2,891,000 after buying an additional 620 shares in the last quarter. Creative Planning raised its stake in Pinnacle West Capital by 10.3% in the first quarter. Creative Planning now owns 11,383 shares of the company’s stock valued at $949,000 after buying an additional 1,062 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Pinnacle West Capital by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 96,181 shares of the company’s stock valued at $8,020,000 after buying an additional 2,973 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in Pinnacle West Capital by 9.4% in the fourth quarter. Macquarie Group Ltd. now owns 37,300 shares of the company’s stock valued at $2,910,000 after buying an additional 3,200 shares in the last quarter. Institutional investors own 82.61% of the company’s stock.

Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

Shares of Pinnacle West Capital Co. (NYSE:PNW) traded down 0.16% during mid-day trading on Thursday, reaching $85.23. 690,301 shares of the company’s stock were exchanged. The firm has a market capitalization of $9.49 billion, a P/E ratio of 21.58 and a beta of 0.29. The stock has a 50-day moving average of $82.88 and a 200 day moving average of $77.85. Pinnacle West Capital Co. has a one year low of $70.11 and a one year high of $85.53.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Friday, February 24th. The company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Pinnacle West Capital had a net margin of 12.30% and a return on equity of 8.97%. The business had revenue of $739 million for the quarter, compared to analysts’ expectations of $791.38 million. During the same period last year, the business earned $0.21 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts forecast that Pinnacle West Capital Co. will post $4.24 EPS for the current fiscal year.

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Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, March 8th. Williams Capital lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating and set a $79.00 price objective for the company. in a research note on Tuesday, March 7th. Mizuho lifted their price objective on shares of Pinnacle West Capital from $78.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday, February 27th. Finally, Goldman Sachs Group Inc upgraded shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $71.00 to $74.00 in a research note on Tuesday, January 17th. Seven research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average target price of $77.83.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

5 Day Chart for NYSE:PNW

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Co. (NYSE:PNW).

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