Bryce Point Capital LLC Takes $488,000 Position in Pinnacle West Capital Co. (NYSE:PNW)

Bryce Point Capital LLC acquired a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,753 shares of the utilities provider’s stock, valued at approximately $488,000.

Several other large investors have also bought and sold shares of the business. YANKCOM Partnership bought a new position in shares of Pinnacle West Capital in the fourth quarter worth about $29,000. Brown Lisle Cummings Inc. acquired a new position in Pinnacle West Capital during the 4th quarter worth approximately $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital in the 4th quarter valued at approximately $42,000. Transcendent Capital Group LLC bought a new position in Pinnacle West Capital in the 4th quarter valued at approximately $46,000. Finally, Allworth Financial LP boosted its position in Pinnacle West Capital by 125.9% in the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock valued at $56,000 after buying an additional 365 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNW has been the subject of a number of research reports. Wells Fargo & Company increased their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Barclays increased their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a research report on Tuesday. UBS Group upped their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Jefferies Financial Group cut their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Morgan Stanley upped their price target on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.50.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $91.15 on Friday. The company has a market capitalization of $10.86 billion, a PE ratio of 17.26, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a twelve month low of $70.73 and a twelve month high of $96.50. The firm has a fifty day simple moving average of $91.09 and a 200 day simple moving average of $89.12.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, sell-side analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

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.