Pinnacle West Capital Corporation (NYSE:PNW) Shares Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC increased its stake in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,713 shares of the utilities provider's stock after acquiring an additional 4,246 shares during the period. CWA Asset Management Group LLC's holdings in Pinnacle West Capital were worth $1,878,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

PNW has been the topic of a number of analyst reports. BMO Capital Markets started coverage on 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. Wall Street Zen downgraded Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Wells Fargo & Company upped their target price on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Morgan Stanley decreased their price objective on 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. Finally, Barclays raised their target price 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. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $97.00.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock traded up $0.33 during mid-day trading on Friday, reaching $88.84. 413,292 shares of the company traded hands, compared to its average volume of 1,121,907. Pinnacle West Capital Corporation has a fifty-two week low of $74.45 and a fifty-two week high of $96.50. The firm's fifty day moving average is $91.68 and its two-hundred day moving average is $89.91. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.50 and a quick ratio of 0.34. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 9.25 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The business had revenue of $1.03 billion during 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%. Pinnacle West Capital's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 EPS. On average, equities research analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently declared 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. This represents a $3.58 annualized dividend and a yield of 4.03%. Pinnacle West Capital's dividend payout ratio (DPR) 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.