78,028 Shares in Pinnacle West Capital Co. (NYSE:PNW) Bought by Banco Santander S.A.

Banco Santander S.A. bought a new position in Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, HoldingsChannel reports. The firm bought 78,028 shares of the utilities provider’s stock, valued at approximately $6,614,000.

Several other hedge funds have also added to or reduced their stakes in PNW. YANKCOM Partnership acquired a new position in Pinnacle West Capital in the 4th quarter worth $29,000. Venturi Wealth Management LLC increased its position in shares of Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 238 shares during the last quarter. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $38,000. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital during the fourth quarter worth about $42,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Pinnacle West Capital during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Guggenheim restated a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Wells Fargo & Company upped their price objective on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Jefferies Financial Group lowered their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research note on Wednesday, December 4th. Finally, Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Pinnacle West Capital currently has an average rating of “Hold” and a consensus price target of $90.15.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $91.91 on Friday. Pinnacle West Capital Co. has a 12 month low of $69.50 and a 12 month high of $95.42. The business’s 50 day simple moving average is $87.62 and its 200 day simple moving average is $88.42. The company has a market cap of $10.95 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 3.59 and a beta of 0.53. 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 (NYSE:PNW) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations 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 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd were issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 68.58%.

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.