205,385 Shares in Pinnacle West Capital Co. (NYSE:PNW) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 205,385 shares of the utilities provider's stock, valued at approximately $17,410,000. Cubist Systematic Strategies LLC owned 0.18% of Pinnacle West Capital as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PNW. Mesirow Financial Investment Management Inc. lifted its stake in Pinnacle West Capital by 0.9% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider's stock valued at $1,163,000 after buying an additional 116 shares in the last quarter. Norinchukin Bank The increased its holdings in shares of Pinnacle West Capital by 2.7% during the 4th quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider's stock worth $373,000 after buying an additional 117 shares during the last quarter. New York Life Investment Management LLC lifted its stake in shares of Pinnacle West Capital by 0.9% in the 4th quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock valued at $1,264,000 after purchasing an additional 127 shares in the last quarter. Global Retirement Partners LLC grew its stake in Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock worth $135,000 after buying an additional 156 shares during the period. Finally, 1620 Investment Advisors Inc. increased its holdings in Pinnacle West Capital by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider's stock valued at $397,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Down 1.4%

Shares of Pinnacle West Capital stock traded down $1.29 during midday trading on Monday, reaching $90.32. 233,913 shares of the company's stock traded hands, compared to its average volume of 1,169,001. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 52 week low of $74.45 and a 52 week high of $96.50. The company's 50 day simple moving average is $93.01 and its 200 day simple moving average is $90.01. The company has a market cap of $10.78 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45.

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

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 5th will be paid a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's payout ratio is presently 71.17%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 1st. Jefferies Financial Group cut their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Guggenheim reaffirmed a "buy" rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research note on Tuesday, April 22nd. Finally, StockNews.com lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. One equities 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, the stock currently has an average rating of "Hold" and a consensus price target of $95.83.

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.