GAMMA Investing LLC Buys 199,274 Shares of Pinnacle West Capital Co. (NYSE:PNW)

GAMMA Investing LLC boosted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 13,170.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200,787 shares of the utilities provider's stock after purchasing an additional 199,274 shares during the period. GAMMA Investing LLC owned 0.17% of Pinnacle West Capital worth $19,125,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its stake in shares of Pinnacle West Capital by 0.9% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider's stock worth $1,163,000 after acquiring an additional 116 shares during the period. Norinchukin Bank The increased its stake in Pinnacle West Capital by 2.7% during the 4th quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider's stock worth $373,000 after acquiring an additional 117 shares during the period. New York Life Investment Management LLC raised its stake in Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock valued at $1,264,000 after purchasing an additional 127 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Pinnacle West Capital by 10.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock worth $135,000 after acquiring an additional 156 shares during the period. Finally, Probity Advisors Inc. boosted its holdings in shares of Pinnacle West Capital by 2.7% in the 4th quarter. Probity Advisors Inc. now owns 6,056 shares of the utilities provider's stock valued at $513,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Stock Up 0.4%

Pinnacle West Capital stock traded up $0.34 during midday trading on Monday, hitting $89.43. 1,647,367 shares of the stock were exchanged, compared to its average volume of 1,121,045. Pinnacle West Capital Co. has a 52-week low of $74.45 and a 52-week high of $96.50. The business's 50-day moving average price is $91.93 and its 200-day moving average price is $90.10. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 3.59 and a beta of 0.43. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $988.95 million. During the same period last year, the firm posted $0.15 earnings per share. Pinnacle West Capital's quarterly revenue was up 8.5% compared to the same quarter last year. On average, research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 5th were issued a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is currently 71.17%.

Analyst Upgrades and Downgrades

PNW has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Guggenheim restated a "buy" rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. Finally, Barclays boosted their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Pinnacle West Capital presently has a consensus rating of "Hold" and a consensus target price of $97.00.

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.