CWA Asset Management Group LLC Grows Stake in Pinnacle West Capital Corporation (NYSE:PNW)

CWA Asset Management Group LLC lifted its position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 27.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,713 shares of the utilities provider's stock after purchasing an additional 4,246 shares during the quarter. CWA Asset Management Group LLC's holdings in Pinnacle West Capital were worth $1,878,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its position in shares of Pinnacle West Capital by 0.9% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider's stock valued at $1,163,000 after purchasing an additional 116 shares during the period. Norinchukin Bank The boosted its position in shares of Pinnacle West Capital by 2.7% in the 4th quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider's stock valued at $373,000 after purchasing an additional 117 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Pinnacle West Capital by 1.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,724 shares of the utilities provider's stock valued at $926,000 after purchasing an additional 125 shares during the period. New York Life Investment Management LLC boosted its position in shares of Pinnacle West Capital by 0.9% in the 4th quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock valued at $1,264,000 after purchasing an additional 127 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of Pinnacle West Capital by 10.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock valued at $135,000 after purchasing an additional 156 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays upped their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 1st. Guggenheim reaffirmed a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company upped their price objective on Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen downgraded Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $97.00.

Pinnacle West Capital Stock Performance

Shares of PNW stock traded up $0.10 during trading hours on Friday, reaching $88.61. 3,210,960 shares of the company's stock were exchanged, compared to its average volume of 1,130,056. The company has a market cap of $10.58 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 9.26 and a beta of 0.43. The company's 50 day moving average is $91.62 and its two-hundred day moving average is $89.88. Pinnacle West Capital Corporation has a 1 year low of $74.45 and a 1 year high of $96.50. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.50 and a quick ratio of 0.34.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued 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 business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $988.95 million. Pinnacle West Capital had a return on equity of 8.78% and a net margin of 11.28%. The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $0.15 earnings per share. Equities research analysts anticipate 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. Investors of record on Friday, August 1st will be paid a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 4.04%. The ex-dividend date is Friday, August 1st. Pinnacle West Capital's payout ratio is currently 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.