Focus Partners Wealth Takes $614,000 Position in Pinnacle West Capital Co. (NYSE:PNW)

Focus Partners Wealth acquired a new position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,241 shares of the utilities provider's stock, valued at approximately $614,000.

A number of other institutional investors have also recently added to or reduced their stakes in PNW. Ensign Peak Advisors Inc boosted its stake in Pinnacle West Capital by 0.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 31,951 shares of the utilities provider's stock valued at $2,708,000 after acquiring an additional 250 shares during the period. Ethic Inc. acquired a new stake in shares of Pinnacle West Capital during the fourth quarter worth $251,000. Deutsche Bank AG raised its position in shares of Pinnacle West Capital by 33.4% during 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 period. Corton Capital Inc. acquired a new position in Pinnacle West Capital during the fourth quarter valued at $284,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Pinnacle West Capital during the fourth quarter valued at $17,410,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

PNW traded up $0.87 during trading hours on Friday, reaching $90.76. The company's stock had a trading volume of 545,931 shares, compared to its average volume of 1,130,034. Pinnacle West Capital Co. has a 52 week low of $74.45 and a 52 week high of $96.50. The company's 50-day moving average is $92.72 and its 200-day moving average is $90.22. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm has a market cap of $10.84 billion, a PE 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 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). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The firm's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. On average, equities analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be given a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 3.94%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's payout ratio is 71.17%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley decreased their target price on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a research note on Thursday. Guggenheim reiterated a "buy" rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Barclays raised their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 1st. Finally, Wall Street Zen cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently 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.