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

Landscape Capital Management L.L.C. purchased a new stake in Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 15,824 shares of the utilities provider’s stock, valued at approximately $1,341,000.

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

Analyst Upgrades and Downgrades

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

Pinnacle West Capital Trading Down 4.3 %

Pinnacle West Capital stock opened at $91.15 on Friday. Pinnacle West Capital Co. has a 12-month low of $70.73 and a 12-month high of $96.50. The stock has a market capitalization of $10.86 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The firm has a 50 day simple moving average of $91.09 and a 200-day simple moving average of $89.12. 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 posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping 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 the consensus estimate of $1.06 billion. As a group, equities research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

About Pinnacle West Capital

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.