Deutsche Bank AG Purchases 610,042 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Deutsche Bank AG boosted its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 33.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,435,065 shares of the utilities provider's stock after buying an additional 610,042 shares during the quarter. Deutsche Bank AG owned approximately 2.14% of Pinnacle West Capital worth $206,420,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PNW. YANKCOM Partnership acquired a new stake in shares of Pinnacle West Capital during the fourth quarter valued at about $29,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Pinnacle West Capital during the fourth quarter valued at about $35,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital during the fourth quarter valued at about $38,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital during the fourth quarter valued at about $42,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Pinnacle West Capital during the fourth quarter valued at about $46,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PNW shares. Barclays lifted their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 1st. Morgan Stanley lifted their price target on Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Guggenheim reissued a "buy" rating and set a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company raised their price objective on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Pinnacle West Capital presently has a consensus rating of "Hold" and an average target price of $95.83.

Pinnacle West Capital Trading Down 1.7%

PNW stock traded down $1.57 during mid-day trading on Monday, reaching $90.04. The company's stock had a trading volume of 992,420 shares, compared to its average volume of 1,111,763. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45. The business's 50 day moving average price is $92.99 and its 200 day moving average price is $90.02. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 12 month low of $74.45 and a 12 month high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. On average, equities research analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be issued a $0.895 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a yield of 3.98%. Pinnacle West Capital's payout ratio is currently 71.17%.

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.