Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 416,712 shares of the utilities provider's stock after purchasing an additional 3,289 shares during the quarter. Squarepoint Ops LLC owned about 0.37% of Pinnacle West Capital worth $35,325,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PNW. Mirae Asset Global Investments Co. Ltd. increased its stake in Pinnacle West Capital by 47.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider's stock valued at $995,000 after purchasing an additional 3,758 shares during the period. Blue Trust Inc. grew its holdings in shares of Pinnacle West Capital by 33.3% during the fourth quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider's stock worth $128,000 after buying an additional 360 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Pinnacle West Capital by 14.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider's stock valued at $363,000 after acquiring an additional 545 shares during the period. MCF Advisors LLC raised its stake in Pinnacle West Capital by 200.6% during the 4th quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider's stock valued at $522,000 after acquiring an additional 4,107 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in Pinnacle West Capital by 54.2% during the 4th quarter. Yousif Capital Management LLC now owns 24,212 shares of the utilities provider's stock worth $2,052,000 after acquiring an additional 8,507 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PNW. Guggenheim reissued a "buy" rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Jefferies Financial Group dropped their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company raised their price objective on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. BMO Capital Markets began coverage on Pinnacle West Capital in a research report on Tuesday, May 13th. They set a "market perform" rating and a $95.00 target price on the stock. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $95.65.

Pinnacle West Capital Price Performance

PNW traded up $0.87 during midday trading on Monday, reaching $90.76. 545,931 shares of the company's stock were exchanged, compared to its average volume of 1,130,034. 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 $10.84 billion, a PE ratio of 17.19, a P/E/G ratio of 3.59 and a beta of 0.45. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The business's 50-day moving average price is $92.72 and its 200 day moving average price is $90.22.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The business's revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. As a group, equities analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is 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.