Townsquare Capital LLC Makes New $246,000 Investment in Pinnacle West Capital Co. (NYSE:PNW)

Townsquare Capital LLC bought a new stake in Pinnacle West Capital Co. (NYSE:PNW) during the fourth quarter, Holdings Channel.com reports. The firm bought 2,904 shares of the utilities provider’s stock, valued at approximately $246,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Pinnacle West Capital by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider’s stock valued at $1,202,116,000 after acquiring an additional 143,716 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in 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 acquiring an additional 37,768 shares in the last quarter. Invesco Ltd. increased 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 valued at $364,342,000 after purchasing an additional 1,045,788 shares during the last quarter. Geode Capital Management LLC increased its holdings in Pinnacle West Capital by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider’s stock valued at $243,897,000 after buying an additional 204,805 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Pinnacle West Capital during the 4th quarter worth about $194,655,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $94.96 on Wednesday. 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 Co. has a 1-year low of $72.78 and a 1-year high of $96.50. The business’s fifty day moving average price is $92.36 and its two-hundred day moving average price is $89.39. The firm has a market capitalization of $11.32 billion, a PE ratio of 17.98, a P/E/G ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.06 billion. On average, research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PNW shares. Morgan Stanley boosted their price objective on 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. Barclays increased their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 1st. Jefferies Financial Group reduced their price objective 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. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Guggenheim reiterated a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Six 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 company. According to data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Moderate Buy” and an average price target of $95.50.

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.