Brighton Jones LLC purchased a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW – Free Report) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,916 shares of the utilities provider’s stock, valued at approximately $417,000.
Other large investors also recently bought and sold shares of the company. Beacon Investment Advisory Services Inc. boosted its position in Pinnacle West Capital by 2.6% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 49,869 shares of the utilities provider’s stock worth $4,227,000 after purchasing an additional 1,276 shares in the last quarter. Baker Ellis Asset Management LLC lifted its position in shares of Pinnacle West Capital by 1.2% during the 4th quarter. Baker Ellis Asset Management LLC now owns 48,829 shares of the utilities provider’s stock valued at $4,139,000 after buying an additional 590 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Pinnacle West Capital by 5.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 36,740 shares of the utilities provider’s stock valued at $3,114,000 after acquiring an additional 1,764 shares during the period. MCF Advisors LLC grew its stake in Pinnacle West Capital by 200.6% in the 4th quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider’s stock valued at $522,000 after acquiring an additional 4,107 shares during the period. Finally, Atomi Financial Group Inc. increased its holdings in Pinnacle West Capital by 9.6% in the 4th quarter. Atomi Financial Group Inc. now owns 3,602 shares of the utilities provider’s stock worth $305,000 after acquiring an additional 317 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.
Pinnacle West Capital Price Performance
Pinnacle West Capital stock opened at $85.80 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock has a market cap of $9.76 billion, a P/E ratio of 16.25, a PEG ratio of 3.40 and a beta of 0.56. The company has a 50-day moving average price of $87.63 and a 200 day moving average price of $87.35. Pinnacle West Capital Co. has a 12-month low of $65.20 and a 12-month high of $95.42.
Pinnacle West Capital Dividend Announcement
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on PNW shares. Wells Fargo & Company lifted their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Citigroup boosted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Morgan Stanley dropped their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $85.21.
View Our Latest Research Report on Pinnacle West Capital
About Pinnacle West Capital
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.
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