Public Employees Retirement System of Ohio Decreases Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Public Employees Retirement System of Ohio lowered its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,885 shares of the utilities provider's stock after selling 2,864 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Pinnacle West Capital were worth $3,720,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. GTS Securities LLC raised its stake in shares of Pinnacle West Capital by 272.2% in the fourth quarter. GTS Securities LLC now owns 10,273 shares of the utilities provider's stock valued at $871,000 after purchasing an additional 7,513 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Pinnacle West Capital by 9.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,408 shares of the utilities provider's stock worth $26,568,000 after purchasing an additional 25,753 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in Pinnacle West Capital by 19.5% during the 4th quarter. Voloridge Investment Management LLC now owns 968,894 shares of the utilities provider's stock worth $82,133,000 after buying an additional 158,266 shares during the period. Woodline Partners LP bought a new position in shares of Pinnacle West Capital during the fourth quarter worth about $579,000. Finally, Vident Advisory LLC acquired a new stake in Pinnacle West Capital in the 4th quarter valued at $206,000. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Trading Down 1.4%

Shares of NYSE:PNW traded down $1.25 during midday trading on Tuesday, hitting $89.59. 151,739 shares of the stock traded hands, compared to its average volume of 1,129,125. Pinnacle West Capital Co. has a one year low of $74.45 and a one year high of $96.50. The stock has a market capitalization of $10.70 billion, a PE ratio of 16.97, a P/E/G ratio of 3.59 and a beta of 0.45. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The business's 50 day moving average is $92.43 and its two-hundred day moving average is $90.19.

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). Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $988.95 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 5th were issued a $0.895 dividend. The ex-dividend date was Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a yield of 4.00%. Pinnacle West Capital's payout ratio is currently 71.17%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Morgan Stanley decreased their target price on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. Barclays raised their target price 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. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company increased their price target on 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, BMO Capital Markets started coverage on Pinnacle West Capital in a report on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.