Pinnacle West Capital Co. (NYSE:PNW) Shares Acquired by Blueshift Asset Management LLC

Blueshift Asset Management LLC raised its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,332 shares of the utilities provider’s stock after buying an additional 786 shares during the quarter. Blueshift Asset Management LLC’s holdings in Pinnacle West Capital were worth $367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNW. YANKCOM Partnership acquired a new stake in Pinnacle West Capital during the fourth quarter valued at approximately $29,000. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital in the 4th quarter worth approximately $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital in the 4th quarter worth approximately $42,000. Prospera Private Wealth LLC bought a new position in Pinnacle West Capital in the 3rd quarter worth approximately $43,000. Finally, Transcendent Capital Group LLC bought a new position in Pinnacle West Capital in the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of recent analyst reports. Morgan Stanley increased their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday. Jefferies Financial Group decreased their price objective 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 increased 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. Citigroup increased their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pinnacle West Capital has a consensus rating of “Moderate Buy” and a consensus target price of $95.17.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $93.67 on Friday. The stock has a fifty day moving average price of $89.46 and a two-hundred day moving average price of $88.82. 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 firm has a market cap of $11.16 billion, a P/E ratio of 17.74, a PEG ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a 1 year low of $70.73 and a 1 year high of $95.42.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) 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 the consensus estimate of $1.06 billion. Research analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS 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.