ERn Financial LLC Purchases 16,200 Shares of Pinnacle West Capital Corporation (NYSE:PNW)

ERn Financial LLC raised its holdings in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 100.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,273 shares of the utilities provider's stock after buying an additional 16,200 shares during the quarter. ERn Financial LLC's holdings in Pinnacle West Capital were worth $3,074,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PNW. State of Alaska Department of Revenue raised its position in shares of Pinnacle West Capital by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 29,560 shares of the utilities provider's stock worth $2,814,000 after purchasing an additional 355 shares during the period. CWA Asset Management Group LLC grew its holdings in shares of Pinnacle West Capital by 27.5% during the first quarter. CWA Asset Management Group LLC now owns 19,713 shares of the utilities provider's stock valued at $1,878,000 after buying an additional 4,246 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Pinnacle West Capital by 1.7% during the first quarter. QRG Capital Management Inc. now owns 71,292 shares of the utilities provider's stock valued at $6,791,000 after buying an additional 1,171 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Pinnacle West Capital during the first quarter valued at about $1,078,000. Finally, Exchange Traded Concepts LLC raised its holdings 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 worth $926,000 after acquiring an additional 125 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. Wall Street Zen cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. BMO Capital Markets started coverage on Pinnacle West Capital in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 price target for the company. Finally, UBS Group raised their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $97.00.

Pinnacle West Capital Stock Up 0.1%

Shares of PNW stock traded up $0.10 on Friday, hitting $88.61. The stock had a trading volume of 3,210,960 shares, compared to its average volume of 1,130,056. The business has a 50 day moving average of $91.62 and a 200 day moving average of $89.86. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 9.26 and a beta of 0.43. 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 Corporation has a 12-month low of $74.45 and a 12-month high of $96.50.

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 analysts' consensus estimates of $0.05 by ($0.09). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. As a group, analysts expect that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 1st will be paid a $0.895 dividend. The ex-dividend date is Friday, August 1st. This represents a $3.58 dividend on an annualized basis and a yield of 4.04%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 71.17%.

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.