SG Americas Securities LLC Has $4.35 Million Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

SG Americas Securities LLC lessened its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 28.3% in the 1st quarter, according to its most recent filing 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 large investors have also made changes to their positions in PNW. Norges Bank acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth about $194,655,000. Invesco Ltd. increased its stake in Pinnacle West Capital by 32.2% during the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock valued at $364,342,000 after acquiring an additional 1,045,788 shares during the period. Merewether Investment Management LP bought a new position in Pinnacle West Capital during the fourth quarter valued at about $69,233,000. Two Sigma Advisers LP increased its stake in Pinnacle West Capital by 462.8% during the fourth quarter. Two Sigma Advisers LP now owns 912,900 shares of the utilities provider's stock valued at $77,387,000 after acquiring an additional 750,700 shares during the period. Finally, Deutsche Bank AG increased its stake in Pinnacle West Capital by 33.4% during the fourth quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider's stock valued at $206,420,000 after acquiring an additional 610,042 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

NYSE PNW traded down $0.85 during trading hours on Friday, reaching $89.85. 1,021,950 shares of the company's stock were exchanged, compared to its average volume of 1,120,337. The stock has a market cap of $10.73 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 3.59 and a beta of 0.43. Pinnacle West Capital Co. has a one year low of $74.45 and a one year high of $96.50. The firm has a fifty day moving average of $91.81 and a 200-day moving average of $90.02. 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 (NYSE:PNW - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $988.95 million. During the same period in the prior year, the company posted $0.15 EPS. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently disclosed 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. This represents a $3.58 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend was Monday, May 5th. Pinnacle West Capital's dividend payout ratio is 71.17%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Guggenheim restated a "buy" rating and set a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Morgan Stanley lowered their price target on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. UBS Group boosted their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Wall Street Zen lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company upped their price objective 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $97.00.

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.