First Financial Corp IN Buys Shares of 500 Pinnacle West Capital Co. (NYSE:PNW)

First Financial Corp IN bought a new stake in Pinnacle West Capital Co. (NYSE:PNW) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 500 shares of the utilities provider’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds have also made changes to their positions in PNW. LPL Financial LLC increased its holdings in shares of Pinnacle West Capital by 21.8% in the 4th quarter. LPL Financial LLC now owns 16,971 shares of the utilities provider’s stock valued at $1,357,000 after acquiring an additional 3,032 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Pinnacle West Capital by 4.7% in the 4th quarter. Squarepoint Ops LLC now owns 130,480 shares of the utilities provider’s stock valued at $10,432,000 after acquiring an additional 5,818 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Pinnacle West Capital by 5.2% in the 4th quarter. New York State Teachers Retirement System now owns 172,547 shares of the utilities provider’s stock valued at $13,795,000 after acquiring an additional 8,502 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $260,000. Finally, American Assets Investment Management LLC increased its holdings in shares of Pinnacle West Capital by 5.5% in the 4th quarter. American Assets Investment Management LLC now owns 58,000 shares of the utilities provider’s stock valued at $4,637,000 after acquiring an additional 3,000 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors.

PNW opened at $84.90 on Monday. The firm has a market capitalization of $9.57 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 4.47 and a beta of 0.25. The stock’s 50 day moving average price is $79.06 and its two-hundred day moving average price is $80.00. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 1.06. Pinnacle West Capital Co. has a 12-month low of $69.29 and a 12-month high of $91.88.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Tuesday, February 23rd. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.21). The business had revenue of $740.96 million during the quarter, compared to analyst estimates of $672.70 million. Pinnacle West Capital had a net margin of 18.03% and a return on equity of 11.16%. As a group, analysts anticipate that Pinnacle West Capital Co. will post 5.08 earnings per share for the current year.

PNW has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Pinnacle West Capital from $77.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, March 25th. Siebert Williams Shank upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $97.00 to $92.00 in a research note on Monday, March 1st. TheStreet downgraded Pinnacle West Capital from a “b” rating to a “c+” rating in a research note on Tuesday, March 16th. Credit Suisse Group restated a “neutral” rating and set a $81.00 price objective (down from $86.00) on shares of Pinnacle West Capital in a research note on Wednesday, March 3rd. Finally, The Goldman Sachs Group lowered their price objective on Pinnacle West Capital from $92.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, March 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $86.11.

Pinnacle West Capital Profile

Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985 and is headquartered in Phoenix, AZ.

Featured Article: Understanding Analyst Ratings

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).

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

Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.