Landscape Capital Management L.L.C. Invests $1.34 Million in Pinnacle West Capital Co. (NYSE:PNW)

Landscape Capital Management L.L.C. bought a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,824 shares of the utilities provider's stock, valued at approximately $1,341,000.

A number of other large investors have also recently made changes to their positions in the stock. Public Sector Pension Investment Board boosted its position in Pinnacle West Capital by 2.6% in the third quarter. Public Sector Pension Investment Board now owns 19,803 shares of the utilities provider's stock worth $1,754,000 after purchasing an additional 500 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Pinnacle West Capital in the third quarter worth approximately $462,000. Hilltop Holdings Inc. bought a new stake in Pinnacle West Capital during the third quarter valued at approximately $239,000. HighTower Advisors LLC increased its holdings in Pinnacle West Capital by 1.7% during the third quarter. HighTower Advisors LLC now owns 70,253 shares of the utilities provider's stock valued at $6,241,000 after buying an additional 1,170 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in Pinnacle West Capital by 36.7% in the third quarter. Quantinno Capital Management LP now owns 19,979 shares of the utilities provider's stock worth $1,770,000 after acquiring an additional 5,361 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PNW has been the topic of a number of recent research reports. Wells Fargo & Company raised 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. UBS Group lifted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. 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. Barclays lifted their price target on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a report on Tuesday, April 1st. Finally, LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pinnacle West Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.50.

Pinnacle West Capital Price Performance

NYSE PNW traded down $1.06 on Thursday, reaching $89.57. The company had a trading volume of 291,180 shares, compared to its average volume of 1,075,904. The stock has a market capitalization of $10.67 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42. The firm's 50 day moving average price is $91.39 and its 200 day moving average price is $89.12. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 12 month low of $70.73 and a 12 month high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. As a group, equities analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current 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.