Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by Bridgefront Capital LLC

Bridgefront Capital LLC lifted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 564.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,959 shares of the utilities provider's stock after buying an additional 16,955 shares during the quarter. Pinnacle West Capital makes up approximately 0.6% of Bridgefront Capital LLC's investment portfolio, making the stock its 18th largest position. Bridgefront Capital LLC's holdings in Pinnacle West Capital were worth $1,692,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Pinnacle West Capital by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock worth $1,202,116,000 after acquiring an additional 143,716 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Pinnacle West Capital by 0.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock worth $581,945,000 after purchasing an additional 37,768 shares during the last quarter. Invesco Ltd. raised its position in shares of Pinnacle West Capital by 32.2% during the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock worth $364,342,000 after purchasing an additional 1,045,788 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pinnacle West Capital by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider's stock valued at $243,897,000 after buying an additional 204,805 shares in the last quarter. Finally, Norges Bank acquired a new stake in Pinnacle West Capital in the 4th quarter worth about $194,655,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Down 0.3 %

PNW stock traded down $0.30 during midday trading on Friday, hitting $91.71. The company's stock had a trading volume of 927,147 shares, compared to its average volume of 1,110,142. Pinnacle West Capital Co. has a 52-week low of $74.45 and a 52-week high of $96.50. The firm has a 50-day simple moving average of $93.01 and a 200-day simple moving average of $89.98. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $10.93 billion, a P/E ratio of 17.37, a PEG ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released 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). Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $988.95 million. During the same quarter last year, the business posted $0.15 earnings per share. The company's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current 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 dividend of $0.895 per share. The ex-dividend date is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.90%. Pinnacle West Capital's payout ratio is 71.17%.

Analyst Ratings Changes

PNW has been the topic of a number of research analyst reports. StockNews.com lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a research report on Tuesday, April 22nd. Morgan Stanley lifted their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Wells Fargo & Company lifted their price target on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.