O Shaughnessy Asset Management LLC Sells 1,116 Shares of Pinnacle West Capital Co. (NYSE:PNW)

O Shaughnessy Asset Management LLC trimmed its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,388 shares of the utilities provider’s stock after selling 1,116 shares during the quarter. 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 institutional investors and hedge funds also recently made changes to their positions in PNW. California Public Employees Retirement System grew its stake in Pinnacle West Capital by 1.7% in the fourth quarter. California Public Employees Retirement System now owns 556,241 shares of the utilities provider’s stock valued at $47,153,000 after acquiring an additional 9,438 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Pinnacle West Capital by 0.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider’s stock valued at $581,945,000 after purchasing an additional 37,768 shares during the period. denkapparat Operations GmbH bought a new stake in Pinnacle West Capital during the 4th quarter worth approximately $525,000. Pictet Asset Management Holding SA raised its holdings in Pinnacle West Capital by 17.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,855,586 shares of the utilities provider’s stock worth $157,298,000 after buying an additional 268,951 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in Pinnacle West Capital in the fourth quarter valued at approximately $3,025,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Barclays increased their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a report on Tuesday. UBS Group boosted their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Jefferies Financial Group decreased 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 research note on Tuesday, January 28th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.50.

Pinnacle West Capital Price Performance

NYSE:PNW opened at $95.47 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The firm has a fifty day simple moving average of $90.79 and a 200 day simple moving average of $89.08. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $95.84. The stock has a market capitalization of $11.37 billion, a PE ratio of 18.08, a P/E/G ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.25. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. On average, 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.