Pinnacle West Capital Co. (NYSE:PNW) Position Increased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,738 shares of the utilities provider’s stock after buying an additional 780 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Pinnacle West Capital were worth $1,249,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Fortem Financial Group LLC boosted 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 in the last quarter. Global Retirement Partners LLC boosted its stake in Pinnacle West Capital by 10.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 156 shares during the period. Glenmede Trust Co. NA boosted its stake in Pinnacle West Capital by 2.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock worth $593,000 after purchasing an additional 163 shares during the period. LRI Investments LLC boosted its stake in Pinnacle West Capital by 7.0% in the 3rd quarter. LRI Investments LLC now owns 2,498 shares of the utilities provider’s stock worth $227,000 after purchasing an additional 163 shares during the period. Finally, Caprock Group LLC boosted its stake in Pinnacle West Capital by 3.1% in the 4th quarter. Caprock Group LLC now owns 5,511 shares of the utilities provider’s stock worth $467,000 after purchasing an additional 164 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PNW. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday. Jefferies Financial Group decreased 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 note on Tuesday, January 28th. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Finally, Citigroup lifted their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $86.58.

Pinnacle West Capital Stock Down 1.6 %

Pinnacle West Capital stock opened at $91.67 on Thursday. The company has a market capitalization of $10.42 billion, a P/E ratio of 17.36, a P/E/G ratio of 3.59 and a beta of 0.57. The firm’s fifty day simple moving average is $86.53 and its 200-day simple moving average is $88.12. 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 1-year low of $66.77 and a 1-year high of $95.42.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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%. Sell-side analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a $0.895 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 annualized dividend and a yield of 3.91%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

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.