Connor Clark & Lunn Investment Management Ltd. Has $14.09 Million Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 332.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 166,224 shares of the utilities provider’s stock after purchasing an additional 127,794 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pinnacle West Capital were worth $14,091,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PNW. YANKCOM Partnership acquired a new stake in Pinnacle West Capital during the 4th quarter valued at $29,000. Venturi Wealth Management LLC raised its stake in Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 238 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new position in Pinnacle West Capital in the fourth quarter valued at about $38,000. Roble Belko & Company Inc acquired a new position in Pinnacle West Capital in the fourth quarter valued at about $42,000. Finally, Prospera Private Wealth LLC bought a new position in Pinnacle West Capital in the third quarter valued at about $43,000. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $91.85 on Friday. The business has a fifty day moving average of $88.17 and a 200 day moving average of $88.53. Pinnacle West Capital Co. has a one year low of $69.50 and a one year high of $95.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The firm has a market capitalization of $10.94 billion, a P/E ratio of 17.40, a PEG ratio of 3.59 and a beta of 0.53.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNW. Citigroup boosted their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Morgan Stanley dropped their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Guggenheim reaffirmed a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.28.

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.