Bryce Point Capital LLC Purchases Shares of 5,753 Pinnacle West Capital Co. (NYSE:PNW)

Bryce Point Capital LLC bought a new position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,753 shares of the utilities provider's stock, valued at approximately $488,000.

Other hedge funds have also modified their holdings of the company. YANKCOM Partnership purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at $29,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital in the 4th quarter valued at about $38,000. Roble Belko & Company Inc purchased a new position in Pinnacle West Capital during the 4th quarter worth approximately $42,000. Transcendent Capital Group LLC purchased a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $46,000. Finally, Allworth Financial LP increased 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 valued at $56,000 after acquiring an additional 365 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock traded down $1.17 during midday trading on Thursday, reaching $89.45. 258,396 shares of the company were exchanged, compared to its average volume of 1,075,755. The firm's 50-day simple moving average is $91.39 and its 200-day simple moving average is $89.12. Pinnacle West Capital Co. has a 1 year low of $70.73 and a 1 year high of $96.50. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 3.59 and a beta of 0.42. 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 (NYSE:PNW - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.25. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. On average, analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "strong-buy" rating in a report on Monday, March 17th. Guggenheim reaffirmed a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Jefferies Financial Group reduced 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 report on Tuesday, January 28th. Barclays raised their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a report on Tuesday, April 1st. Finally, UBS Group upped their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.