iSAM Funds UK Ltd Reduces Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

iSAM Funds UK Ltd reduced its position in shares of 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 & Exchange Commission. The firm owned 18,230 shares of the utilities provider's stock after selling 4,021 shares during the period. Pinnacle West Capital makes up about 1.2% of iSAM Funds UK Ltd's investment portfolio, making the stock its 6th largest position. iSAM Funds UK Ltd's holdings in Pinnacle West Capital were worth $1,545,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. YANKCOM Partnership acquired a new stake in shares of Pinnacle West Capital during the fourth quarter valued at approximately $29,000. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at $35,000. Brown Lisle Cummings Inc. purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at $38,000. Transcendent Capital Group LLC purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at $46,000. Finally, Allworth Financial LP raised its position in Pinnacle West Capital by 125.9% during the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock valued at $56,000 after buying an additional 365 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Up 0.8%

Shares of PNW stock opened at $92.44 on Tuesday. Pinnacle West Capital Co. has a 12 month low of $74.45 and a 12 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 firm has a market cap of $11.04 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45. The stock has a 50 day moving average of $92.90 and a 200-day moving average of $90.13.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released 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 net margin of 12.26% and a return on equity of 9.60%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $988.95 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. Pinnacle West Capital's revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 5th will be given a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is presently 71.17%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PNW. Guggenheim reissued a "buy" rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Jefferies Financial Group cut their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Barclays raised their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 1st. StockNews.com lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, Wells Fargo & Company upped their target price on 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $95.75.

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.

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