Mutual Advisors LLC Has $1.03 Million Position in Pinnacle West Capital Corporation (NYSE:PNW)

Mutual Advisors LLC lifted its holdings in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 89.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,032 shares of the utilities provider's stock after buying an additional 5,219 shares during the quarter. Mutual Advisors LLC's holdings in Pinnacle West Capital were worth $1,034,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PNW. Norges Bank bought a new position in Pinnacle West Capital in the fourth quarter worth about $194,655,000. Invesco Ltd. boosted its position in Pinnacle West Capital by 32.2% in the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock valued at $364,342,000 after buying an additional 1,045,788 shares during the last quarter. Merewether Investment Management LP purchased a new stake in Pinnacle West Capital in the 4th quarter worth approximately $69,233,000. Two Sigma Advisers LP boosted its position in Pinnacle West Capital by 462.8% in the 4th quarter. Two Sigma Advisers LP now owns 912,900 shares of the utilities provider's stock worth $77,387,000 after purchasing an additional 750,700 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Pinnacle West Capital by 33.4% during the 4th quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider's stock valued at $206,420,000 after buying an additional 610,042 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Up 0.6%

Shares of PNW stock traded up $0.54 on Wednesday, reaching $90.16. 278,216 shares of the company's stock traded hands, compared to its average volume of 1,137,540. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.34 and a current ratio of 0.50. The company has a market capitalization of $10.77 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 9.42 and a beta of 0.42. The business's 50 day moving average price is $90.54 and its two-hundred day moving average price is $90.02. Pinnacle West Capital Corporation has a 12-month low of $76.00 and a 12-month high of $96.50.

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

Pinnacle West Capital Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.97%. Pinnacle West Capital's payout ratio is 71.17%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PNW. 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 note on Friday, March 21st. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley decreased their price objective on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a research note on Thursday, May 22nd. Barclays lifted their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 1st. Finally, BMO Capital Markets initiated coverage on Pinnacle West Capital in a research note on Tuesday, May 13th. They set a "market perform" rating and a $95.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $97.00.

Pinnacle West Capital Company 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.