MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Position in Pinnacle West Capital Co. (NYSE:PNW)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 31.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,962 shares of the utilities provider's stock after purchasing an additional 7,488 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Pinnacle West Capital were worth $2,625,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PNW. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Pinnacle West Capital by 47.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider's stock worth $995,000 after buying an additional 3,758 shares during the period. Blue Trust Inc. raised its holdings in Pinnacle West Capital by 33.3% during the 4th quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider's stock valued at $128,000 after acquiring an additional 360 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Pinnacle West Capital by 14.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider's stock worth $363,000 after acquiring an additional 545 shares in the last quarter. MCF Advisors LLC lifted its position in shares of Pinnacle West Capital by 200.6% during the fourth quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider's stock worth $522,000 after acquiring an additional 4,107 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in shares of Pinnacle West Capital by 54.2% in the fourth quarter. Yousif Capital Management LLC now owns 24,212 shares of the utilities provider's stock worth $2,052,000 after acquiring an additional 8,507 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

PNW traded up $0.87 on Monday, reaching $90.76. The company had a trading volume of 545,931 shares, compared to its average volume of 1,130,034. Pinnacle West Capital Co. has a 52-week low of $74.45 and a 52-week high of $96.50. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 3.59 and a beta of 0.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The business has a 50 day simple moving average of $92.65 and a 200 day simple moving average of $90.21.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $988.95 million. During the same quarter last year, the business posted $0.15 EPS. The business's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is currently 71.17%.

Wall Street Analysts Forecast Growth

PNW has been the topic of a number of analyst reports. Barclays boosted 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. Wall Street Zen lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company raised their price objective on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley reduced their price objective on shares of Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $95.65.

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.