Squarepoint Ops LLC Boosts Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Squarepoint Ops LLC raised its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 416,712 shares of the utilities provider's stock after acquiring an additional 3,289 shares during the quarter. Squarepoint Ops LLC owned approximately 0.37% of Pinnacle West Capital worth $35,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Twinbeech Capital LP lifted its stake in shares of Pinnacle West Capital by 214.8% in the fourth quarter. Twinbeech Capital LP now owns 106,826 shares of the utilities provider's stock worth $9,056,000 after buying an additional 72,896 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Pinnacle West Capital by 462.8% in the fourth quarter. Two Sigma Advisers LP now owns 912,900 shares of the utilities provider's stock worth $77,387,000 after buying an additional 750,700 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Pinnacle West Capital by 133.4% in the fourth quarter. Two Sigma Investments LP now owns 961,616 shares of the utilities provider's stock worth $81,516,000 after buying an additional 549,637 shares in the last quarter. Teza Capital Management LLC lifted its stake in shares of Pinnacle West Capital by 64.1% in the fourth quarter. Teza Capital Management LLC now owns 56,035 shares of the utilities provider's stock worth $4,750,000 after buying an additional 21,891 shares in the last quarter. Finally, Tema Etfs LLC purchased a new position in shares of Pinnacle West Capital in the fourth quarter worth about $323,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNW. StockNews.com downgraded shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. BMO Capital Markets began coverage on shares of Pinnacle West Capital in a research note on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 price target on the stock. Barclays raised their price target on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 1st. LADENBURG THALM/SH SH raised shares of 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 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $95.75.

Pinnacle West Capital Stock Performance

NYSE:PNW opened at $92.49 on Wednesday. The company's 50-day moving average is $92.91 and its two-hundred day moving average is $90.15. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 3.59 and a beta of 0.45. Pinnacle West Capital Co. has a 1-year low of $74.45 and a 1-year high of $96.50. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

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 (EPS) 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 analysts' expectations of $988.95 million. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Pinnacle West Capital's revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. Analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders 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 dividend yield of 3.87%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is 71.17%.

About Pinnacle West Capital

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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