SG Americas Securities LLC Reduces Position in Pinnacle West Capital Co. (NYSE:PNW)

SG Americas Securities LLC trimmed its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 28.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 45,669 shares of the utilities provider's stock after selling 18,039 shares during the period. SG Americas Securities LLC's holdings in Pinnacle West Capital were worth $4,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sonora Investment Management Group LLC raised its stake in Pinnacle West Capital by 1.2% during the 1st quarter. Sonora Investment Management Group LLC now owns 24,064 shares of the utilities provider's stock valued at $2,292,000 after acquiring an additional 287 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Pinnacle West Capital by 39.3% during the first quarter. GAMMA Investing LLC now owns 2,108 shares of the utilities provider's stock worth $201,000 after purchasing an additional 595 shares during the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of Pinnacle West Capital by 18.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 12,906 shares of the utilities provider's stock worth $1,229,000 after purchasing an additional 2,002 shares during the last quarter. Yousif Capital Management LLC raised its stake in shares of Pinnacle West Capital by 2.9% during the first quarter. Yousif Capital Management LLC now owns 24,904 shares of the utilities provider's stock worth $2,372,000 after purchasing an additional 692 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Pinnacle West Capital by 51.2% during the 1st quarter. Farther Finance Advisors LLC now owns 2,715 shares of the utilities provider's stock worth $259,000 after buying an additional 919 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Price Performance

NYSE PNW traded down $1.10 during mid-day trading on Monday, hitting $88.87. The stock had a trading volume of 1,351,709 shares, compared to its average volume of 1,121,270. Pinnacle West Capital Co. has a 52-week low of $74.45 and a 52-week high of $96.50. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 3.59 and a beta of 0.43. The company has a 50 day simple moving average of $91.81 and a 200 day simple moving average of $89.96. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released 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). 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 analysts' expectations of $988.95 million. During the same period in the previous year, the business earned $0.15 earnings per share. The business's revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 5th were issued a dividend of $0.895 per share. The ex-dividend date was Monday, May 5th. This represents a $3.58 annualized dividend and a yield of 4.03%. Pinnacle West Capital's dividend payout ratio (DPR) is currently 71.17%.

Analysts Set New Price Targets

A number of equities analysts have commented on PNW shares. Morgan Stanley cut their price objective 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, May 22nd. Wall Street Zen cut shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. BMO Capital Markets began coverage on Pinnacle West Capital in a research note on Tuesday, May 13th. They set a "market perform" rating and a $95.00 target price for the company. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. Finally, Guggenheim reiterated a "buy" rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. One investment 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. According to data from MarketBeat.com, Pinnacle West Capital has an average rating of "Hold" and a consensus price target of $97.00.

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.