Burney Co. Has $1.93 Million Holdings in Pinnacle West Capital Corporation (NYSE:PNW)

Burney Co. raised its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,211 shares of the utilities provider's stock after purchasing an additional 3,609 shares during the period. Burney Co.'s holdings in Pinnacle West Capital were worth $1,925,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PNW. Norinchukin Bank The boosted its holdings in shares of Pinnacle West Capital by 2.7% during the fourth quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider's stock valued at $373,000 after acquiring an additional 117 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Pinnacle West Capital by 1.3% during the first quarter. Exchange Traded Concepts LLC now owns 9,724 shares of the utilities provider's stock valued at $926,000 after acquiring an additional 125 shares during the period. Allworth Financial LP boosted its holdings in shares of Pinnacle West Capital by 19.1% during the first quarter. Allworth Financial LP now owns 780 shares of the utilities provider's stock valued at $74,000 after acquiring an additional 125 shares during the period. IFP Advisors Inc boosted its holdings in shares of Pinnacle West Capital by 4.0% during the first quarter. IFP Advisors Inc now owns 4,062 shares of the utilities provider's stock valued at $387,000 after acquiring an additional 156 shares during the period. Finally, Probity Advisors Inc. boosted its holdings in shares of Pinnacle West Capital by 2.7% during the fourth quarter. Probity Advisors Inc. now owns 6,056 shares of the utilities provider's stock valued at $513,000 after acquiring an additional 159 shares during the period. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

NYSE PNW traded down $1.13 on Monday, reaching $89.78. The company's stock had a trading volume of 293,853 shares, compared to its average volume of 1,163,527. Pinnacle West Capital Corporation has a twelve month low of $81.47 and a twelve month high of $96.50. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.34 and a current ratio of 0.50. The stock has a market cap of $10.72 billion, a PE ratio of 17.86, a PEG ratio of 9.47 and a beta of 0.42. The firm's 50 day moving average is $90.42 and its two-hundred day moving average is $90.72.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). Pinnacle West Capital had a net margin of 11.28% and a return on equity of 8.78%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $988.95 million. During the same period in the previous year, the company posted $0.15 earnings per share. Pinnacle West Capital's revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 1st will be issued a dividend of $0.895 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.58 annualized dividend and a yield of 3.99%. Pinnacle West Capital's payout ratio is presently 71.17%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PNW shares. Morgan Stanley reduced their price target on shares of Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a report on Thursday, May 22nd. Barclays upped their price objective on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 1st. UBS Group reaffirmed a "neutral" rating and issued a $98.00 price objective (up previously from $96.00) on shares of Pinnacle West Capital in a report on Friday, July 11th. BMO Capital Markets initiated 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. Finally, LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Pinnacle West Capital has an average rating of "Hold" and an average price target of $96.78.

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.