Quantinno Capital Management LP Boosts Stake in Pinnacle West Capital Co. (NYSE:PNW)

Quantinno Capital Management LP lifted its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 62.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,401 shares of the utilities provider's stock after purchasing an additional 12,422 shares during the quarter. Quantinno Capital Management LP's holdings in Pinnacle West Capital were worth $2,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. lifted its position in shares of 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 worth $1,163,000 after purchasing an additional 116 shares during the last quarter. Norinchukin Bank The lifted its position in shares of 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 buying an additional 117 shares during the last quarter. New York Life Investment Management LLC grew its holdings in Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock worth $1,264,000 after purchasing an additional 127 shares during the last quarter. Global Retirement Partners LLC raised its stake in Pinnacle West Capital by 10.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock valued at $135,000 after buying an additional 156 shares during the last quarter. Finally, 1620 Investment Advisors Inc. grew its position in Pinnacle West Capital by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider's stock worth $397,000 after purchasing an additional 162 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. UBS Group raised their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Guggenheim reaffirmed a "buy" rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Morgan Stanley reduced their target price on shares of Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, BMO Capital Markets started coverage on Pinnacle West Capital in a research note on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $95.65.

Pinnacle West Capital Trading Up 1.0%

Shares of PNW traded up $0.87 during midday trading on Monday, hitting $90.76. 545,931 shares of the stock were exchanged, compared to its average volume of 1,130,034. The stock has a fifty day simple moving average of $92.72 and a 200 day simple moving average of $90.22. Pinnacle West Capital Co. has a 52-week low of $74.45 and a 52-week high of $96.50. 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 firm 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 (NYSE:PNW - Get Free Report) last issued its quarterly 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 business 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 earned $0.15 EPS. The business's quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm 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 $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's dividend payout ratio 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.