Mutual Advisors LLC Grows Position in Pinnacle West Capital Corporation (NYSE:PNW)

Mutual Advisors LLC raised its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 89.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,032 shares of the utilities provider's stock after purchasing 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 filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Pinnacle West Capital by 26.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,775 shares of the utilities provider's stock valued at $2,524,000 after purchasing an additional 6,183 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Pinnacle West Capital by 12.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,127 shares of the utilities provider's stock valued at $1,236,000 after purchasing an additional 1,411 shares during the last quarter. Blue Trust Inc. lifted its holdings in Pinnacle West Capital by 215.3% during the first quarter. Blue Trust Inc. now owns 1,094 shares of the utilities provider's stock valued at $104,000 after purchasing an additional 747 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Pinnacle West Capital by 39.3% during the first quarter. GAMMA Investing LLC now owns 2,108 shares of the utilities provider's stock valued at $201,000 after purchasing an additional 595 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Pinnacle West Capital by 51.2% during the first quarter. Farther Finance Advisors LLC now owns 2,715 shares of the utilities provider's stock valued at $259,000 after purchasing an additional 919 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PNW. Barclays increased their price target on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 1st. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. UBS Group increased their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Wall Street Zen downgraded shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, Morgan Stanley lowered their price target on shares of Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $97.00.

Pinnacle West Capital Trading Up 0.3%

Shares of PNW opened at $90.42 on Friday. The firm's 50 day simple moving average is $90.74 and its 200 day simple moving average is $89.95. The company has a market capitalization of $10.80 billion, a P/E ratio of 17.98, a P/E/G ratio of 9.45 and a beta of 0.42. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.50 and a quick ratio of 0.34. Pinnacle West Capital Corporation has a 1-year low of $75.57 and a 1-year high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its 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). The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $988.95 million. Pinnacle West Capital had a net margin of 11.28% and a return on equity of 8.78%. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. Sell-side analysts forecast that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 1st will be paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Friday, August 1st. Pinnacle West Capital's dividend payout ratio (DPR) is presently 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.

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