Pinnacle West Capital Co. (NYSE:PNW) Position Boosted by Two Sigma Advisers LP

Two Sigma Advisers LP boosted its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 462.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 912,900 shares of the utilities provider's stock after acquiring an additional 750,700 shares during the quarter. Two Sigma Advisers LP owned 0.80% of Pinnacle West Capital worth $77,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth about $29,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth about $35,000. Brown Lisle Cummings Inc. acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth about $38,000. Transcendent Capital Group LLC acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth about $46,000. Finally, Allworth Financial LP lifted its stake in shares of Pinnacle West Capital by 125.9% during the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock worth $56,000 after purchasing an additional 365 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PNW shares. Wells Fargo & Company boosted their price objective on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Morgan Stanley cut their price target on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Thursday. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. Jefferies Financial Group cut their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Finally, UBS Group raised their price target 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $95.65.

Pinnacle West Capital Stock Up 1.0%

Pinnacle West Capital stock traded up $0.87 during midday trading on Friday, hitting $90.76. The stock had a trading volume of 545,931 shares, compared to its average volume of 1,130,034. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock has a market cap of $10.84 billion, a P/E ratio of 17.19, a P/E/G ratio of 3.59 and a beta of 0.45. Pinnacle West Capital Co. has a 12 month low of $74.45 and a 12 month high of $96.50. The business has a fifty day moving average price of $92.72 and a 200 day moving average price of $90.21.

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 the consensus estimate 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 net margin of 12.26% and a return on equity of 9.60%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. Research analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business 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 is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is presently 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.