BNP Paribas Financial Markets Increases Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

BNP Paribas Financial Markets increased its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,055 shares of the utilities provider's stock after purchasing an additional 7,300 shares during the period. BNP Paribas Financial Markets owned 0.18% of Pinnacle West Capital worth $17,637,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. YANKCOM Partnership purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at $29,000. Canada Post Corp Registered Pension Plan acquired a new position in Pinnacle West Capital in the 4th quarter valued at approximately $35,000. Brown Lisle Cummings Inc. acquired a new position in shares of Pinnacle West Capital in the 4th quarter worth approximately $38,000. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital during the 4th quarter worth approximately $42,000. Finally, Transcendent Capital Group LLC bought a new position in Pinnacle West Capital in the 4th quarter valued at $46,000. Institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

PNW has been the topic of several research analyst reports. UBS Group raised their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. StockNews.com cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Barclays increased their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a report on Tuesday, April 1st. Wells Fargo & Company increased 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 report on Friday, May 2nd. Finally, Guggenheim reissued a "buy" rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $95.83.

Pinnacle West Capital Price Performance

PNW traded down $1.57 during trading on Monday, hitting $90.04. 992,420 shares of the company traded hands, compared to its average volume of 1,111,763. Pinnacle West Capital Co. has a 1 year low of $74.45 and a 1 year high of $99.60. The company has a market cap of $10.75 billion, a PE ratio of 17.05, a P/E/G ratio of 3.59 and a beta of 0.45. The stock's 50-day simple moving average is $93.01 and its two-hundred day simple moving average is $90.01. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $988.95 million. During the same quarter in the prior year, the firm posted $0.15 EPS. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate 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, 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 3.98%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's dividend 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.