Edgestream Partners L.P. Has $4.70 Million Stock Position in Pinnacle West Capital Corporation (NYSE:PNW)

Edgestream Partners L.P. lifted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 1,634.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 49,370 shares of the utilities provider's stock after purchasing an additional 46,523 shares during the period. Edgestream Partners L.P.'s holdings in Pinnacle West Capital were worth $4,702,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PNW. Wealth Enhancement Advisory Services LLC lifted its stake in Pinnacle West Capital by 26.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,775 shares of the utilities provider's stock valued at $2,524,000 after buying an additional 6,183 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Pinnacle West Capital by 12.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,127 shares of the utilities provider's stock valued at $1,236,000 after buying an additional 1,411 shares during the period. Stratos Wealth Partners LTD. lifted its stake in Pinnacle West Capital by 26.2% in the first quarter. Stratos Wealth Partners LTD. now owns 5,546 shares of the utilities provider's stock valued at $528,000 after buying an additional 1,150 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Pinnacle West Capital by 8.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,650 shares of the utilities provider's stock valued at $443,000 after buying an additional 366 shares during the period. Finally, Amalgamated Bank lifted its stake in Pinnacle West Capital by 1.7% in the first quarter. Amalgamated Bank now owns 22,300 shares of the utilities provider's stock valued at $2,124,000 after buying an additional 372 shares during the period. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Up 0.7%

Shares of NYSE:PNW traded up $0.61 during mid-day trading on Friday, reaching $92.16. 169,128 shares of the stock were exchanged, compared to its average volume of 1,155,329. 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 $81.27 and a one year high of $96.50. The company has a market cap of $11.00 billion, a P/E ratio of 18.32, a P/E/G ratio of 9.46 and a beta of 0.42. The stock's 50 day simple moving average is $90.14 and its 200-day simple moving average is $90.26.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data 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). 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 quarter last year, the business earned $0.15 earnings per share. Pinnacle West Capital's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts predict that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 1st will be issued a $0.895 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.88%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 71.17%.

Wall Street Analyst Weigh In

PNW has been the topic of several analyst reports. Wells Fargo & Company increased their target price 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. UBS Group reissued a "neutral" rating and issued a $98.00 target price (up previously from $96.00) on shares of Pinnacle West Capital in a research note on Friday, July 11th. Morgan Stanley dropped their price target on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 22nd. KeyCorp dropped their price target on Pinnacle West Capital from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. One 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.