Janney Montgomery Scott LLC Acquires Shares of 11,318 Pinnacle West Capital Corporation (NYSE:PNW)

Janney Montgomery Scott LLC bought a new stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 11,318 shares of the utilities provider's stock, valued at approximately $1,078,000.

Other large investors also recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan acquired a new stake in Pinnacle West Capital in the fourth quarter worth approximately $35,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth $60,000. TD Waterhouse Canada Inc. grew its holdings in Pinnacle West Capital by 125.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 842 shares of the utilities provider's stock valued at $71,000 after purchasing an additional 468 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Pinnacle West Capital by 971.8% during the 1st quarter. Versant Capital Management Inc now owns 836 shares of the utilities provider's stock worth $80,000 after purchasing an additional 758 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Pinnacle West Capital by 76.5% during the 4th 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 during the period. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $88.53 on Monday. Pinnacle West Capital Corporation has a 52 week low of $75.10 and a 52 week high of $96.50. The company's 50 day moving average price is $91.14 and its two-hundred day moving average price is $89.83. The stock has a market cap of $10.57 billion, a P/E ratio of 17.60, a P/E/G ratio of 9.25 and a beta of 0.43. The company has a quick ratio of 0.34, a current ratio of 0.50 and a debt-to-equity ratio of 1.18.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data 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 11.28% and a return on equity of 8.78%. The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $988.95 million. During the same quarter in the previous year, the company posted $0.15 EPS. Pinnacle West Capital's revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts predict that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

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 given a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Friday, August 1st. Pinnacle West Capital's dividend payout ratio is currently 71.17%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PNW. Wall Street Zen cut shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Wells Fargo & Company raised their price target on Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Morgan Stanley reduced their price objective on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. UBS Group increased their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Pinnacle West Capital currently has a consensus rating of "Hold" and an average target price of $97.00.

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.

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Corporation (NYSE:PNW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.