Pinnacle West Capital Co. (NYSE:PNW) is iSAM Funds UK Ltd's 6th Largest Position

iSAM Funds UK Ltd reduced its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,230 shares of the utilities provider's stock after selling 4,021 shares during the period. Pinnacle West Capital makes up 1.2% of iSAM Funds UK Ltd's portfolio, making the stock its 6th biggest position. iSAM Funds UK Ltd's holdings in Pinnacle West Capital were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Mesirow Financial Investment Management Inc. grew its stake in shares of Pinnacle West Capital by 0.9% in the fourth 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 last quarter. Norinchukin Bank The grew its stake in shares of Pinnacle West Capital by 2.7% in the fourth 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 last quarter. New York Life Investment Management LLC grew its stake in shares of 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 worth $1,264,000 after acquiring an additional 127 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Pinnacle West Capital by 10.8% in the fourth 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 last quarter. Finally, 1620 Investment Advisors Inc. boosted its position in shares of Pinnacle West Capital by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider's stock valued at $397,000 after buying an additional 162 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PNW. Jefferies Financial Group dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company increased their price objective on Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Barclays increased their price objective on 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. BMO Capital Markets began coverage on Pinnacle West Capital in a research report on Tuesday, May 13th. They set a "market perform" rating and a $95.00 price objective on the stock. Finally, UBS Group increased their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $95.65.

Pinnacle West Capital Stock Performance

PNW stock traded up $0.87 during trading on Friday, reaching $90.76. The 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 stock's 50 day moving average is $92.72 and its two-hundred day moving average is $90.21. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The firm has a market cap of $10.84 billion, a PE ratio of 17.19, a PEG 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 analysts' consensus estimates of $0.05 by ($0.09). The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $988.95 million. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The firm's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. As a group, equities analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

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 paid a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's payout ratio is 71.17%.

Pinnacle West Capital 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.