LSV Asset Management Purchases New Position in Pinnacle West Capital Co. (NYSE:PNW)

LSV Asset Management bought a new stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 53,500 shares of the utilities provider's stock, valued at approximately $4,535,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Pinnacle West Capital by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock worth $1,202,116,000 after purchasing an additional 143,716 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Pinnacle West Capital by 0.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock worth $581,945,000 after buying an additional 37,768 shares during the last quarter. Invesco Ltd. boosted its position in shares of Pinnacle West Capital by 32.2% in the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock worth $364,342,000 after buying an additional 1,045,788 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Pinnacle West Capital by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider's stock worth $243,897,000 after buying an additional 204,805 shares in the last quarter. Finally, Norges Bank acquired a new stake in Pinnacle West Capital in the 4th quarter valued at about $194,655,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Up 1.1 %

Pinnacle West Capital stock traded up $1.07 during trading on Friday, reaching $94.48. The company had a trading volume of 2,215,855 shares, compared to its average volume of 1,082,630. Pinnacle West Capital Co. has a 12-month low of $72.78 and a 12-month 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 stock's 50 day moving average price is $92.16 and its two-hundred day moving average price is $89.32. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 3.59 and a beta of 0.42.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on PNW. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "strong-buy" rating in a research report on Monday, March 17th. Jefferies Financial Group cut their price target 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. Guggenheim reaffirmed a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, Morgan Stanley boosted their target price on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. 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. Based on data from MarketBeat, Pinnacle West Capital has an average rating of "Moderate Buy" and an average target price of $95.50.

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.