Pinnacle West Capital Co. (NYSE:PNW) Stock Holdings Lowered by Capital Investment Advisors LLC

Capital Investment Advisors LLC reduced its position in Pinnacle West Capital Co. (NYSE:PNW) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,254 shares of the utilities provider’s stock after selling 933 shares during the period. Capital Investment Advisors LLC’s holdings in Pinnacle West Capital were worth $6,025,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Brighton Jones LLC acquired a new position in Pinnacle West Capital during the 4th quarter worth $417,000. Yousif Capital Management LLC grew its holdings in shares of Pinnacle West Capital by 54.2% during the fourth quarter. Yousif Capital Management LLC now owns 24,212 shares of the utilities provider’s stock worth $2,052,000 after purchasing an additional 8,507 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Pinnacle West Capital by 47.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider’s stock worth $995,000 after acquiring an additional 3,758 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Pinnacle West Capital by 14.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider’s stock valued at $363,000 after buying an additional 545 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Pinnacle West Capital by 2.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,412 shares of the utilities provider’s stock worth $1,391,000 after purchasing an additional 327 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PNW shares. 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. Morgan Stanley decreased their price objective on Pinnacle West Capital from $88.00 to $87.00 and set an “equal weight” rating for the company in a report on Thursday, May 22nd. BMO Capital Markets began coverage on shares of Pinnacle West Capital in a research report on Tuesday, May 13th. They issued a “market perform” rating and a $95.00 price objective for the company. Wall Street Zen lowered Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Finally, UBS Group boosted 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Pinnacle West Capital has an average rating of “Hold” and a consensus price target of $97.00.

Pinnacle West Capital Price Performance

NYSE PNW opened at $89.05 on Friday. The company has a market cap of $10.63 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 3.59 and a beta of 0.43. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm’s 50-day simple moving average is $92.05 and its two-hundred day simple moving average is $90.15. Pinnacle West Capital Co. has a 52 week low of $74.45 and a 52 week high of $96.50.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $988.95 million. During the same quarter last year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 5th were paid a dividend of $0.895 per share. The ex-dividend date was Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.02%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 71.17%.

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.