Landscape Capital Management L.L.C. Makes New Investment in Pinnacle West Capital Co. (NYSE:PNW)

Landscape Capital Management L.L.C. acquired a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,824 shares of the utilities provider’s stock, valued at approximately $1,341,000.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PNW shares. Jefferies Financial Group reduced their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. UBS Group increased their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Guggenheim reaffirmed a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, Barclays increased their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.50.

Pinnacle West Capital Trading Down 4.3 %

NYSE:PNW opened at $91.15 on Friday. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $96.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The business’s 50-day simple moving average is $91.09 and its 200 day simple moving average is $89.12.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results 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 for the quarter, compared to analyst estimates of $1.06 billion. As a group, sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

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.