Focus Partners Wealth Buys New Shares in Pinnacle West Capital Co. (NYSE:PNW)

Focus Partners Wealth bought a new stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,241 shares of the utilities provider's stock, valued at approximately $614,000.

Other hedge funds have also added to or reduced their stakes in the company. YANKCOM Partnership bought a new position in Pinnacle West Capital in the fourth quarter valued at $29,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $35,000. Brown Lisle Cummings Inc. bought a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $38,000. Transcendent Capital Group LLC bought a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $46,000. Finally, Allworth Financial LP grew its position in shares of Pinnacle West Capital by 125.9% in the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock valued at $56,000 after acquiring an additional 365 shares during the period. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $92.44 on Tuesday. Pinnacle West Capital Co. has a twelve month low of $74.45 and a twelve month high of $96.50. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company has a 50-day simple moving average of $92.90 and a two-hundred day simple moving average of $90.13. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data 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 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 firm earned $0.15 EPS. Pinnacle West Capital's revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts forecast that Pinnacle West Capital Co. 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 Monday, June 2nd. Shareholders of record on Monday, May 5th will be paid a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 3.87%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is 71.17%.

Analyst Ratings Changes

A number of brokerages have recently commented on PNW. BMO Capital Markets began coverage on shares of Pinnacle West Capital in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 price objective for the company. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. Barclays lifted their price objective 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. Morgan Stanley lifted their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Finally, UBS Group raised their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $95.75.

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.

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