Federated Hermes Inc. Has $27.30 Million Stake in Pinnacle West Capital Co. (NYSE:PNW)

Federated Hermes Inc. grew its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 85.1% during the 4th quarter, HoldingsChannel reports. The firm owned 322,039 shares of the utilities provider’s stock after acquiring an additional 148,019 shares during the quarter. Federated Hermes Inc.’s holdings in Pinnacle West Capital were worth $27,299,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNW. HighTower Advisors LLC grew its holdings in Pinnacle West Capital by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 70,253 shares of the utilities provider’s stock valued at $6,241,000 after buying an additional 1,170 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Pinnacle West Capital by 36.7% in the third quarter. Quantinno Capital Management LP now owns 19,979 shares of the utilities provider’s stock valued at $1,770,000 after acquiring an additional 5,361 shares during the period. Stifel Financial Corp grew its stake in shares of Pinnacle West Capital by 5.6% in the third quarter. Stifel Financial Corp now owns 140,765 shares of the utilities provider’s stock worth $12,470,000 after acquiring an additional 7,502 shares during the last quarter. National Bank of Canada FI increased its position in Pinnacle West Capital by 83.6% during the third quarter. National Bank of Canada FI now owns 57,477 shares of the utilities provider’s stock worth $5,092,000 after acquiring an additional 26,179 shares during the period. Finally, Orion Portfolio Solutions LLC raised its stake in Pinnacle West Capital by 10.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 22,493 shares of the utilities provider’s stock valued at $1,993,000 after purchasing an additional 2,177 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Price Performance

Shares of PNW stock opened at $88.97 on Wednesday. The stock’s fifty day simple moving average is $91.24 and its 200 day simple moving average is $89.11. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $96.50. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 3.59 and a beta of 0.42. 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 issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Guggenheim restated a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Jefferies Financial Group cut their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, UBS Group boosted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.50.

About Pinnacle West Capital

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.