denkapparat Operations GmbH Purchases New Holdings in Pinnacle West Capital Co. (NYSE:PNW)

denkapparat Operations GmbH acquired a new position in Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 6,194 shares of the utilities provider’s stock, valued at approximately $525,000.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on PNW. UBS Group increased their price objective 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. Wells Fargo & Company raised their price objective 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. 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 report on Wednesday, December 4th. Citigroup raised their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Guggenheim restated a “buy” rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Pinnacle West Capital has a consensus rating of “Moderate Buy” and an average price target of $95.17.

Pinnacle West Capital Stock Performance

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

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, sell-side analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital 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.