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

Cubist Systematic Strategies LLC purchased a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 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 large investors have also added to or reduced their stakes in PNW. Brevan Howard Capital Management LP grew its position in shares of Pinnacle West Capital by 442.1% in the 4th quarter. Brevan Howard Capital Management LP now owns 57,915 shares of the utilities provider's stock worth $4,909,000 after buying an additional 47,232 shares during the last quarter. Bridgefront Capital LLC lifted its stake in Pinnacle West Capital by 564.4% in the fourth quarter. Bridgefront Capital LLC now owns 19,959 shares of the utilities provider's stock worth $1,692,000 after acquiring an additional 16,955 shares during the period. Captrust Financial Advisors boosted its holdings in Pinnacle West Capital by 1.2% in the fourth quarter. Captrust Financial Advisors now owns 740,965 shares of the utilities provider's stock valued at $62,812,000 after acquiring an additional 8,934 shares in the last quarter. Baird Financial Group Inc. increased its position in Pinnacle West Capital by 2.2% during the 4th quarter. Baird Financial Group Inc. now owns 25,111 shares of the utilities provider's stock valued at $2,129,000 after purchasing an additional 550 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in shares of Pinnacle West Capital by 23.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 610,413 shares of the utilities provider's stock worth $51,745,000 after purchasing an additional 115,346 shares during the period. Institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on PNW. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research report on Tuesday, April 22nd. Morgan Stanley upped their price target on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Guggenheim restated a "buy" rating and set a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. UBS Group increased their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research note 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, the stock presently has a consensus rating of "Hold" and an average price target of $95.83.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $93.50 on Wednesday. The company has a 50 day moving average of $93.03 and a 200 day moving average of $89.92. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a twelve month low of $74.45 and a twelve month high of $96.50. The firm has a market cap of $11.15 billion, a P/E ratio of 17.71, a PEG ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate 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%. Pinnacle West Capital'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. As a group, research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be given a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is presently 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.

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