AQR Capital Management LLC Purchases 565,847 Shares of Pinnacle West Capital Co. (NYSE:PNW)

AQR Capital Management LLC increased its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 24.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,900,739 shares of the utilities provider’s stock after buying an additional 565,847 shares during the quarter. AQR Capital Management LLC owned about 2.58% of Pinnacle West Capital worth $272,931,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Pinnacle West Capital by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 1,530,593 shares of the utilities provider’s stock worth $130,192,000 after purchasing an additional 117,893 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Pinnacle West Capital by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 484,326 shares of the utilities provider’s stock worth $41,265,000 after purchasing an additional 7,360 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Pinnacle West Capital by 3.7% during the first quarter. CIBC Asset Management Inc now owns 10,613 shares of the utilities provider’s stock worth $1,014,000 after purchasing an additional 375 shares in the last quarter. Moors & Cabot Inc. acquired a new position in shares of Pinnacle West Capital during the first quarter worth $207,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Pinnacle West Capital by 7.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,556 shares of the utilities provider’s stock worth $627,000 after purchasing an additional 442 shares in the last quarter. Institutional investors and hedge funds own 88.10% of the company’s stock.

A number of equities analysts recently commented on PNW shares. Evercore ISI downgraded shares of Pinnacle West Capital from an “in-line” rating to an “underperform” rating in a research note on Friday, August 9th. Morgan Stanley set a $92.00 price objective on shares of Pinnacle West Capital and gave the company a “sell” rating in a research note on Friday, August 16th. ValuEngine downgraded shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. UBS Group upped their price objective on shares of Pinnacle West Capital from $99.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Co restated a “hold” rating on shares of Pinnacle West Capital in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus price target of $98.25.

NYSE PNW traded up $0.09 during trading hours on Friday, hitting $95.46. 973,148 shares of the stock were exchanged, compared to its average volume of 828,924. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average of $95.47 and a 200 day moving average of $94.93. Pinnacle West Capital Co. has a 12-month low of $80.22 and a 12-month high of $99.81. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 3.29 and a beta of 0.10.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Thursday, August 8th. The utilities provider reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.15). The company had revenue of $869.50 million for the quarter, compared to analyst estimates of $973.16 million. Pinnacle West Capital had a return on equity of 9.33% and a net margin of 13.84%. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 earnings per share. On average, equities research analysts expect that Pinnacle West Capital Co. will post 4.76 earnings per share for the current year.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.

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Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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