Pinnacle West Capital Co. (NYSE:PNW) Stock Position Lifted by Voloridge Investment Management LLC

Voloridge Investment Management LLC boosted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 19.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 968,894 shares of the utilities provider's stock after purchasing an additional 158,266 shares during the period. Voloridge Investment Management LLC owned about 0.85% of Pinnacle West Capital worth $82,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. grew its position in Pinnacle West Capital by 0.9% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider's stock valued at $1,163,000 after purchasing an additional 116 shares in the last quarter. Norinchukin Bank The grew its position in Pinnacle West Capital by 2.7% during the fourth quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider's stock valued at $373,000 after purchasing an additional 117 shares in the last quarter. New York Life Investment Management LLC grew its position in Pinnacle West Capital by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock valued at $1,264,000 after purchasing an additional 127 shares in the last quarter. Global Retirement Partners LLC grew its position in Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock valued at $135,000 after purchasing an additional 156 shares in the last quarter. Finally, 1620 Investment Advisors Inc. grew its position in Pinnacle West Capital by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider's stock valued at $397,000 after purchasing an additional 162 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PNW has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of 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. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. Guggenheim reissued a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. 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. Finally, Jefferies Financial Group decreased their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. One equities 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 stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of "Hold" and an average target price of $95.75.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $92.44 on Tuesday. The firm has a fifty day simple moving average of $92.90 and a 200-day simple moving average of $90.13. 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 Co. has a 1-year low of $74.45 and a 1-year high of $96.50. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $988.95 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Pinnacle West Capital's quarterly revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share 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. Investors 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 3.87%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's payout ratio is currently 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.

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