Toronto Dominion Bank Has $1.99 Million Stake in Pinnacle West Capital Co. (NYSE:PNW)

Toronto Dominion Bank trimmed its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 54.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,526 shares of the utilities provider's stock after selling 28,008 shares during the quarter. Toronto Dominion Bank's holdings in Pinnacle West Capital were worth $1,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PNW. YANKCOM Partnership purchased a new stake in Pinnacle West Capital during the 4th quarter valued at approximately $29,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Pinnacle West Capital in the 4th quarter worth approximately $35,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital in the 4th quarter worth approximately $38,000. Transcendent Capital Group LLC acquired a new stake in Pinnacle West Capital during the 4th quarter valued at $46,000. Finally, Allworth Financial LP grew its holdings in Pinnacle West Capital by 125.9% during the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock valued at $56,000 after buying an additional 365 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Wall Street Zen lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Guggenheim reiterated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, Morgan Stanley decreased their target price on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of "Hold" and a consensus price target of $95.65.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock traded up $0.09 during midday trading on Thursday, hitting $90.20. 83,349 shares of the company were exchanged, compared to its average volume of 1,125,934. The firm has a 50 day simple moving average of $92.53 and a 200-day simple moving average of $90.22. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a 52 week low of $74.45 and a 52 week high of $96.50. The firm has a market cap of $10.77 billion, a P/E ratio of 17.10, a PEG ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released 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). Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $988.95 million. During the same period last year, the business posted $0.15 earnings per share. The firm's quarterly revenue was up 8.5% on a year-over-year basis. Research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share 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. Stockholders of record on Monday, May 5th will be issued a $0.895 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.97%. Pinnacle West Capital's dividend payout ratio (DPR) is 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.