Pinnacle West Capital Co. (NYSE:PNW) Holdings Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 57.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,065,801 shares of the utilities provider's stock after purchasing an additional 388,527 shares during the period. Assenagon Asset Management S.A. owned approximately 0.89% of Pinnacle West Capital worth $101,518,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sonora Investment Management Group LLC grew its position in shares of Pinnacle West Capital by 1.2% during the first quarter. Sonora Investment Management Group LLC now owns 24,064 shares of the utilities provider's stock worth $2,292,000 after buying an additional 287 shares in the last quarter. GAMMA Investing LLC boosted its stake in Pinnacle West Capital by 39.3% during the 1st quarter. GAMMA Investing LLC now owns 2,108 shares of the utilities provider's stock valued at $201,000 after acquiring an additional 595 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Pinnacle West Capital by 18.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 12,906 shares of the utilities provider's stock worth $1,229,000 after acquiring an additional 2,002 shares in the last quarter. Yousif Capital Management LLC grew its holdings in Pinnacle West Capital by 2.9% during the 1st quarter. Yousif Capital Management LLC now owns 24,904 shares of the utilities provider's stock worth $2,372,000 after acquiring an additional 692 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Pinnacle West Capital by 51.2% in the 1st quarter. Farther Finance Advisors LLC now owns 2,715 shares of the utilities provider's stock worth $259,000 after purchasing an additional 919 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PNW. Wells Fargo & Company lifted their price target on 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. Morgan Stanley decreased their target price on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. Guggenheim restated a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, BMO Capital Markets assumed coverage on shares of Pinnacle West Capital in a report on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $97.00.

Pinnacle West Capital Stock Performance

PNW stock traded up $0.84 during mid-day trading on Thursday, reaching $90.05. The company had a trading volume of 366,529 shares, compared to its average volume of 1,119,916. Pinnacle West Capital Co. has a one year low of $74.45 and a one year high of $96.50. The stock has a market capitalization of $10.75 billion, a P/E ratio of 17.05, a P/E/G ratio of 3.59 and a beta of 0.43. 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 stock's 50-day simple moving average is $91.78 and its two-hundred day simple moving average is $90.10.

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 for 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 company's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. Research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 5th were given a dividend of $0.895 per share. The ex-dividend date was Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a yield of 3.98%. 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.