AQR Capital Management LLC Buys 135,808 Shares of Pinnacle West Capital Co. (NYSE:PNW)

AQR Capital Management LLC boosted its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 105.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 265,041 shares of the utilities provider's stock after acquiring an additional 135,808 shares during the quarter. AQR Capital Management LLC owned 0.23% of Pinnacle West Capital worth $22,468,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $29,000. Canada Post Corp Registered Pension Plan bought a new position in Pinnacle West Capital in the fourth quarter valued at $35,000. Brown Lisle Cummings Inc. purchased a new stake in Pinnacle West Capital during 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, Transcendent Capital Group LLC bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at about $46,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PNW has been the topic of several recent research reports. UBS Group increased their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Guggenheim restated a "buy" rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. StockNews.com lowered shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday. Morgan Stanley increased their price target on shares of 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. Finally, Jefferies Financial Group reduced their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $95.83.

Pinnacle West Capital Stock Up 0.4 %

Shares of PNW traded up $0.42 during trading hours on Wednesday, hitting $93.89. The company had a trading volume of 1,401,157 shares, compared to its average volume of 1,109,642. Pinnacle West Capital Co. has a 52-week low of $74.45 and a 52-week high of $96.50. The firm has a fifty day moving average price of $93.03 and a 200-day moving average price of $89.92. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 3.59 and a beta of 0.45. 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 (NYSE:PNW - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm 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%. The company's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 EPS. On average, equities research analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's payout ratio is currently 71.17%.

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.