Pinnacle West Capital Corporation (NYSE:PNW) Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC boosted its position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 3,114.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,290 shares of the utilities provider's stock after purchasing an additional 9,001 shares during the period. Penserra Capital Management LLC's holdings in Pinnacle West Capital were worth $884,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PNW. Brighton Jones LLC purchased a new position in Pinnacle West Capital during the fourth quarter worth about $417,000. Jones Financial Companies Lllp raised its stake in Pinnacle West Capital by 76.5% during the fourth 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. Proficio Capital Partners LLC purchased a new position in Pinnacle West Capital during the fourth quarter worth about $3,528,000. Raymond James Financial Inc. purchased a new position in Pinnacle West Capital during the fourth quarter worth about $4,892,000. Finally, PNC Financial Services Group Inc. raised its stake in Pinnacle West Capital by 1.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 66,836 shares of the utilities provider's stock worth $5,666,000 after purchasing an additional 1,100 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Down 0.4%

Shares of PNW stock traded down $0.33 during trading on Friday, reaching $91.01. The company's stock had a trading volume of 731,717 shares, compared to its average volume of 1,138,820. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.50 and a quick ratio of 0.34. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 9.48 and a beta of 0.42. The stock's 50-day moving average price is $90.33 and its 200 day moving average price is $90.17. Pinnacle West Capital Corporation has a 1-year low of $79.33 and a 1-year 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) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. On average, research analysts anticipate that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 1st will be issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Friday, August 1st. Pinnacle West Capital's dividend payout ratio (DPR) is currently 71.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Barclays lifted their target price on shares of 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. BMO Capital Markets began coverage on shares of Pinnacle West Capital in a research note on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, UBS Group boosted their price target on shares of Pinnacle West Capital from $96.00 to $98.00 and gave the company a "neutral" rating in a research note on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Pinnacle West Capital presently has an average rating of "Hold" and an average target price of $96.89.

About Pinnacle West Capital

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.