Ethic Inc. Invests $251,000 in Pinnacle West Capital Co. (NYSE:PNW)

Ethic Inc. bought a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,966 shares of the utilities provider's stock, valued at approximately $251,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Deutsche Bank AG grew its stake in Pinnacle West Capital by 33.4% during the 4th 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. Corton Capital Inc. purchased a new position in Pinnacle West Capital during the 4th quarter valued at about $284,000. Cubist Systematic Strategies LLC purchased a new position in Pinnacle West Capital during the 4th quarter valued at about $17,410,000. Brevan Howard Capital Management LP grew its stake in Pinnacle West Capital by 442.1% during the 4th quarter. Brevan Howard Capital Management LP now owns 57,915 shares of the utilities provider's stock valued at $4,909,000 after acquiring an additional 47,232 shares in the last quarter. Finally, Bridgefront Capital LLC grew its stake in Pinnacle West Capital by 564.4% during the 4th quarter. Bridgefront Capital LLC now owns 19,959 shares of the utilities provider's stock valued at $1,692,000 after acquiring an additional 16,955 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

PNW traded up $0.87 on Friday, hitting $90.76. The company had a trading volume of 545,931 shares, compared to its average volume of 1,127,236. The company's fifty day moving average price is $92.72 and its 200 day moving average price is $90.21. Pinnacle West Capital Co. 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 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The stock has a market cap of $10.84 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $988.95 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm's revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 5th will be issued a $0.895 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.58 annualized dividend and a yield of 3.94%. Pinnacle West Capital's dividend payout ratio (DPR) is currently 71.17%.

Analysts Set New Price Targets

Several research firms have weighed in on PNW. Wells Fargo & Company lifted 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. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. Barclays boosted their price target 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 reissued a "buy" rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, UBS Group boosted their price target 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 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 MarketBeat, Pinnacle West Capital has a consensus rating of "Hold" and a consensus price target of $95.65.

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.