denkapparat Operations GmbH Takes $525,000 Position in Pinnacle West Capital Co. (NYSE:PNW)

denkapparat Operations GmbH bought a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,194 shares of the utilities provider’s stock, valued at approximately $525,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HITE Hedge Asset Management LLC boosted its holdings in shares of Pinnacle West Capital by 261.2% during the third quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock worth $8,178,000 after purchasing an additional 66,755 shares during the last quarter. XTX Topco Ltd acquired a new stake in Pinnacle West Capital in the 3rd quarter worth about $2,235,000. Principal Financial Group Inc. grew its holdings in Pinnacle West Capital by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock valued at $12,336,000 after buying an additional 9,993 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Pinnacle West Capital by 47.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider’s stock valued at $995,000 after acquiring an additional 3,758 shares during the last quarter. Finally, Bridgewater Associates LP lifted its holdings in shares of Pinnacle West Capital by 104.5% during the 3rd quarter. Bridgewater Associates LP now owns 101,970 shares of the utilities provider’s stock worth $9,034,000 after acquiring an additional 52,095 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PNW has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. Jefferies Financial Group lowered 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. Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a report on Wednesday, December 4th. Finally, UBS Group upped their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Six investment 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.17.

Pinnacle West Capital Stock Performance

Shares of NYSE:PNW opened at $93.01 on Friday. The business’s 50-day simple moving average is $90.13 and its 200 day simple moving average is $88.94. The company has a market cap of $11.08 billion, a P/E ratio of 17.62, a PEG ratio of 3.59 and a beta of 0.53. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $95.42.

Pinnacle West Capital (NYSE:PNW) last released 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 business had revenue of $1.10 billion during 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 earnings per share for the current fiscal 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.