GTS Securities LLC Raises Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

GTS Securities LLC boosted its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 272.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,273 shares of the utilities provider's stock after purchasing an additional 7,513 shares during the quarter. GTS Securities LLC's holdings in Pinnacle West Capital were worth $871,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Pinnacle West Capital by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock worth $1,202,116,000 after buying an additional 143,716 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Pinnacle West Capital by 0.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock worth $581,945,000 after acquiring an additional 37,768 shares in the last quarter. Invesco Ltd. grew its stake in shares of Pinnacle West Capital by 32.2% during the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock worth $364,342,000 after acquiring an additional 1,045,788 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Pinnacle West Capital by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider's stock valued at $243,897,000 after acquiring an additional 204,805 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Pinnacle West Capital by 33.4% during the fourth quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider's stock valued at $206,420,000 after acquiring an additional 610,042 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PNW. UBS Group boosted their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Barclays boosted their price objective on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a report on Tuesday, April 1st. Wall Street Zen lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company increased their price objective 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $95.65.

Pinnacle West Capital Stock Performance

PNW traded up $0.65 during midday trading on Thursday, hitting $90.76. 612,591 shares of the company were exchanged, compared to its average volume of 1,128,009. The company's 50 day simple moving average is $92.53 and its 200 day simple moving average is $90.22. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45. Pinnacle West Capital Co. has a 1-year low of $74.45 and a 1-year high of $96.50. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted 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). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. During the same period last year, the business earned $0.15 earnings per share. The firm's revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts predict that Pinnacle West Capital Co. 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 Monday, June 2nd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is 71.17%.

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.