Beacon Investment Advisory Services Inc. Raises Stock Position in Pinnacle West Capital Corporation (NYSE:PNW)

Beacon Investment Advisory Services Inc. raised its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,614 shares of the utilities provider's stock after purchasing an additional 2,745 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Pinnacle West Capital were worth $5,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Pinnacle West Capital by 14.3% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 19,588 shares of the utilities provider's stock valued at $1,866,000 after purchasing an additional 2,444 shares during the last quarter. Lindbrook Capital LLC grew its position in Pinnacle West Capital by 478.2% during the 1st quarter. Lindbrook Capital LLC now owns 2,336 shares of the utilities provider's stock valued at $223,000 after purchasing an additional 1,932 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Pinnacle West Capital by 2.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 8,710 shares of the utilities provider's stock valued at $830,000 after purchasing an additional 231 shares during the last quarter. IFP Advisors Inc grew its position in Pinnacle West Capital by 4.0% during the 1st quarter. IFP Advisors Inc now owns 4,062 shares of the utilities provider's stock valued at $387,000 after purchasing an additional 156 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in Pinnacle West Capital by 3,500.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 612 shares of the utilities provider's stock valued at $58,000 after purchasing an additional 595 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on PNW shares. Barclays increased their price objective on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 1st. Wall Street Zen cut shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. BMO Capital Markets began coverage on shares of Pinnacle West Capital in a research note on Tuesday, May 13th. They set a "market perform" rating and a $95.00 target price on the stock. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. Finally, UBS Group restated a "neutral" rating and set a $98.00 target price (up previously from $96.00) on shares of Pinnacle West Capital in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $96.78.

Pinnacle West Capital Stock Performance

PNW traded down $0.19 during trading on Wednesday, hitting $94.26. The company's stock had a trading volume of 25,634 shares, compared to its average volume of 1,135,363. The company has a quick ratio of 0.34, a current ratio of 0.50 and a debt-to-equity ratio of 1.18. Pinnacle West Capital Corporation has a one year low of $81.47 and a one year high of $96.50. The firm has a market cap of $11.26 billion, a PE ratio of 18.77, a P/E/G ratio of 9.70 and a beta of 0.42. The business's 50 day simple moving average is $90.21 and its 200-day simple moving average is $90.46.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced 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 firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a net margin of 11.28% and a return on equity of 8.78%. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share. As a group, sell-side analysts predict that Pinnacle West Capital Corporation will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 1st will be given a dividend of $0.895 per share. The ex-dividend date is Friday, August 1st. This represents a $3.58 annualized dividend and a dividend yield of 3.80%. Pinnacle West Capital's payout ratio is 71.17%.

Pinnacle West Capital 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.