Valley Brook Capital Group Invests $63,000 in Pinnacle West Capital Co. (NYSE:PNW)

Valley Brook Capital Group bought a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 800 shares of the utilities provider’s stock, valued at approximately $63,000.

Several other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Pinnacle West Capital by 15.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,396,418 shares of the utilities provider’s stock worth $111,643,000 after acquiring an additional 187,866 shares in the last quarter. Norges Bank purchased a new position in Pinnacle West Capital during the fourth quarter worth about $108,051,000. Rare Infrastructure Ltd boosted its holdings in Pinnacle West Capital by 28.0% during the fourth quarter. Rare Infrastructure Ltd now owns 853,930 shares of the utilities provider’s stock worth $68,272,000 after purchasing an additional 186,825 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Pinnacle West Capital by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 753,541 shares of the utilities provider’s stock worth $60,246,000 after purchasing an additional 8,580 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Pinnacle West Capital by 62.5% during the fourth quarter. JPMorgan Chase & Co. now owns 726,809 shares of the utilities provider’s stock worth $58,109,000 after purchasing an additional 279,556 shares during the last quarter. 82.78% of the stock is owned by institutional investors.

Several research analysts recently weighed in on the stock. TheStreet cut shares of Pinnacle West Capital from a “b” rating to a “c+” rating in a report on Tuesday, March 16th. Siebert Williams Shank upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and cut their price target for the stock from $97.00 to $92.00 in a report on Monday, March 1st. Morgan Stanley boosted their price target on shares of Pinnacle West Capital from $77.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, March 25th. Credit Suisse Group restated a “neutral” rating and set a $81.00 price target (down from $86.00) on shares of Pinnacle West Capital in a report on Wednesday, March 3rd. Finally, Zacks Investment Research cut shares of Pinnacle West Capital from a “buy” rating to a “hold” rating and set a $85.00 target price on the stock. in a research note on Friday, December 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $86.11.

PNW opened at $82.26 on Thursday. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 4.47 and a beta of 0.25. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average price is $77.84 and its two-hundred day moving average price is $79.55. Pinnacle West Capital Co. has a twelve month low of $69.29 and a twelve month high of $91.88.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, February 23rd. The utilities provider reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.21). The business had revenue of $740.96 million for the quarter, compared to analysts’ expectations 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, sell-side analysts anticipate that Pinnacle West Capital Co. will post 5.08 earnings per share for the current year.

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.

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

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