Cerity Partners LLC Boosts Holdings in Pinnacle West Capital Corporation (NYSE:PNW)

Cerity Partners LLC boosted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 47.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,951 shares of the utilities provider's stock after acquiring an additional 44,187 shares during the period. Cerity Partners LLC owned about 0.12% of Pinnacle West Capital worth $13,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PNW. Vanguard Group Inc. increased its stake in shares of Pinnacle West Capital by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock worth $1,202,116,000 after purchasing an additional 143,716 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Pinnacle West Capital by 0.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock worth $581,945,000 after buying an additional 37,768 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Pinnacle West Capital by 32.2% in the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock worth $364,342,000 after acquiring an additional 1,045,788 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Pinnacle West Capital by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider's stock worth $243,897,000 after acquiring an additional 204,805 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Pinnacle West Capital by 33.4% in the fourth quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider's stock valued at $206,420,000 after acquiring an additional 610,042 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on PNW. UBS Group lifted their price objective on Pinnacle West Capital from $96.00 to $98.00 and gave the stock a "neutral" rating in a research report on Friday. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. BMO Capital Markets started 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 price objective on the stock. Barclays raised their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 1st. Finally, 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $96.89.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $91.01 on Monday. Pinnacle West Capital Corporation has a one year low of $79.33 and a one year 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 company has a 50 day moving average price of $90.33 and a 200 day moving average price of $90.17. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 9.48 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. Sell-side analysts anticipate that Pinnacle West Capital Corporation will post 5.13 EPS for the current 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 paid a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Friday, August 1st. Pinnacle West Capital's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.