O Shaughnessy Asset Management LLC Has $3.51 Million Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

O Shaughnessy Asset Management LLC cut its stake in Pinnacle West Capital Co. (NYSE:PNW) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,388 shares of the utilities provider’s stock after selling 1,116 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Pinnacle West Capital were worth $3,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. YANKCOM Partnership acquired a new position in Pinnacle West Capital during the fourth quarter worth $29,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital during the 4th quarter worth about $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital during the 4th quarter valued at about $42,000. Transcendent Capital Group LLC acquired a new position in Pinnacle West Capital in the fourth quarter valued at about $46,000. Finally, Allworth Financial LP grew its stake in Pinnacle West Capital by 125.9% during the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock worth $56,000 after buying an additional 365 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.2 %

PNW opened at $95.47 on Thursday. The firm has a 50 day simple moving average of $90.79 and a 200 day simple moving average of $89.08. Pinnacle West Capital Co. has a fifty-two week low of $70.73 and a fifty-two week high of $95.84. The company has a market cap of $11.37 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. 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 earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, sell-side analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PNW. Guggenheim reissued a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Wells Fargo & Company increased their target price 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. Citigroup lifted their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Barclays increased their price objective on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, UBS Group boosted their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Pinnacle West Capital currently has an average rating of “Moderate Buy” and a consensus target price of $95.50.

Pinnacle West Capital Company 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.