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

Bryce Point Capital LLC purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 5,753 shares of the utilities provider’s stock, valued at approximately $488,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. raised its position in shares of Pinnacle West Capital by 0.9% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock worth $1,163,000 after purchasing an additional 116 shares during the period. Fortem Financial Group LLC raised its holdings in Pinnacle West Capital by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after buying an additional 124 shares during the last quarter. New York Life Investment Management LLC lifted its stake in shares of Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock valued at $1,264,000 after buying an additional 127 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock valued at $135,000 after buying an additional 156 shares during the last quarter. Finally, 1620 Investment Advisors Inc. increased its position in shares of Pinnacle West Capital by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock worth $397,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

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 price-to-earnings-growth 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 52-week low of $70.73 and a 52-week high of $96.50. The company has a 50-day simple moving average of $91.09 and a 200 day simple moving average of $89.12.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.06 billion. On average, research analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of analyst reports. UBS Group lifted their price target 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 dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Guggenheim reissued a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their price target 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. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.50.

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.