Fortem Financial Group LLC Has $944,000 Stock Position in Pinnacle West Capital Corporation (NYSE:PNW)

Fortem Financial Group LLC increased its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 73.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,906 shares of the utilities provider's stock after buying an additional 4,189 shares during the quarter. Fortem Financial Group LLC's holdings in Pinnacle West Capital were worth $944,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in shares of Pinnacle West Capital in the 4th quarter worth approximately $417,000. Jones Financial Companies Lllp increased its position in shares of Pinnacle West Capital by 76.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,075 shares of the utilities provider's stock worth $91,000 after purchasing an additional 466 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Pinnacle West Capital in the fourth quarter valued at $3,528,000. Raymond James Financial Inc. acquired a new stake in Pinnacle West Capital in the 4th quarter valued at about $4,892,000. Finally, Amundi boosted its position in Pinnacle West Capital by 1,781.8% in the 4th quarter. Amundi now owns 143,754 shares of the utilities provider's stock valued at $12,019,000 after buying an additional 136,115 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

Shares of NYSE:PNW traded down $1.26 during trading on Tuesday, hitting $90.02. 1,251,538 shares of the company traded hands, compared to its average volume of 1,137,894. The company has a quick ratio of 0.34, a current ratio of 0.50 and a debt-to-equity ratio of 1.18. The business's fifty day moving average is $90.33 and its 200-day moving average is $90.17. The stock has a market capitalization of $10.75 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 9.48 and a beta of 0.42. Pinnacle West Capital Corporation has a one year low of $79.33 and a one year high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Pinnacle West Capital had a return on equity of 8.78% and a net margin of 11.28%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $988.95 million. During the same period in the previous year, the company earned $0.15 earnings per share. The company's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts predict that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 1st will be paid a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, August 1st. Pinnacle West Capital's dividend payout ratio (DPR) is currently 71.17%.

Analyst Upgrades and Downgrades

PNW has been the subject of several recent research reports. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company increased 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 note on Friday, May 2nd. Barclays lifted their target price on shares of 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. Wall Street Zen downgraded shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, BMO Capital Markets started coverage on Pinnacle West Capital in a research note on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 target price for the company. 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $96.89.

About Pinnacle West Capital

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.