Financial Counselors Inc. increased its stake in shares of Pinnacle West Capital Co. (NYSE:PNW – Free Report) by 37.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,558 shares of the utilities provider’s stock after purchasing an additional 47,035 shares during the period. Financial Counselors Inc. owned 0.15% of Pinnacle West Capital worth $12,397,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Comerica Bank acquired a new position in shares of Pinnacle West Capital during the 3rd quarter worth approximately $4,620,000. Pacer Advisors Inc. raised its position in shares of Pinnacle West Capital by 604.2% during the 4th quarter. Pacer Advisors Inc. now owns 50,631 shares of the utilities provider’s stock worth $3,637,000 after purchasing an additional 43,441 shares during the last quarter. Hudson Bay Capital Management LP raised its position in shares of Pinnacle West Capital by 254.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 115,160 shares of the utilities provider’s stock worth $8,485,000 after purchasing an additional 82,660 shares during the last quarter. UBS Group AG raised its position in shares of Pinnacle West Capital by 83.2% during the 3rd quarter. UBS Group AG now owns 308,765 shares of the utilities provider’s stock worth $22,750,000 after purchasing an additional 140,215 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of Pinnacle West Capital by 18.2% during the 3rd quarter. Moors & Cabot Inc. now owns 6,257 shares of the utilities provider’s stock worth $461,000 after purchasing an additional 962 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Pinnacle West Capital Trading Down 0.3 %
Shares of NYSE PNW traded down $0.22 during trading on Thursday, hitting $71.98. 24,680 shares of the company traded hands, compared to its average volume of 1,368,664. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $86.03. The company has a 50-day moving average price of $70.57 and a 200-day moving average price of $72.14. The firm has a market capitalization of $8.17 billion, a P/E ratio of 16.37, a P/E/G ratio of 2.06 and a beta of 0.49. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on PNW
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.
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