NEOS Investment Management LLC Invests $428,000 in Pinnacle West Capital Co. (NYSE:PNW)

NEOS Investment Management LLC purchased a new stake in Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,047 shares of the utilities provider’s stock, valued at approximately $428,000.

A number of other hedge funds have also recently bought and sold shares of PNW. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at approximately $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Pinnacle West Capital in the fourth quarter worth $38,000. Roble Belko & Company Inc acquired a new stake in Pinnacle West Capital in the fourth quarter valued at $42,000. Transcendent Capital Group LLC bought a new position in Pinnacle West Capital during the 4th quarter valued at $46,000. Finally, Allworth Financial LP grew its holdings in Pinnacle West Capital by 125.9% during the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 365 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. Jefferies Financial Group lowered 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. Wells Fargo & Company increased their target price 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. Finally, KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.17.

Pinnacle West Capital Stock Up 1.3 %

Pinnacle West Capital stock opened at $94.23 on Monday. Pinnacle West Capital Co. has a 52 week low of $70.73 and a 52 week high of $95.42. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 3.59 and a beta of 0.53. The company’s 50-day moving average price is $90.28 and its two-hundred day moving average price is $88.96. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

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, beating analysts’ consensus estimates of ($0.31) by $0.25. The business 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, 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.