Teacher Retirement System of Texas Raises Position in Pinnacle West Capital Corporation (NYSE:PNW)

Teacher Retirement System of Texas increased its holdings in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 20.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,824 shares of the utilities provider's stock after purchasing an additional 5,849 shares during the quarter. Teacher Retirement System of Texas' holdings in Pinnacle West Capital were worth $3,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PNW. Brighton Jones LLC purchased a new position in Pinnacle West Capital in the 4th quarter worth $417,000. Jones Financial Companies Lllp raised its position in Pinnacle West Capital by 76.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,075 shares of the utilities provider's stock worth $91,000 after purchasing an additional 466 shares during the period. Charles Schwab Investment Management Inc. raised its position in Pinnacle West Capital by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,031,190 shares of the utilities provider's stock worth $87,414,000 after purchasing an additional 3,102 shares during the period. Proficio Capital Partners LLC purchased a new position in Pinnacle West Capital in the 4th quarter worth $3,528,000. Finally, Raymond James Financial Inc. purchased a new position in Pinnacle West Capital in the 4th quarter worth $4,892,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Trading Up 1.4%

Shares of PNW traded up $1.23 during trading hours on Thursday, reaching $91.19. 323,283 shares of the company traded hands, compared to its average volume of 1,136,508. The company's fifty day moving average price is $90.44 and its two-hundred day moving average price is $90.02. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 9.37 and a beta of 0.42. The company has a quick ratio of 0.34, a current ratio of 0.50 and a debt-to-equity ratio of 1.18. Pinnacle West Capital Corporation has a 12 month low of $77.10 and a 12 month high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a net margin of 11.28% and a return on equity of 8.78%. The company's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. Equities research analysts predict that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 1st will be issued a $0.895 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.58 annualized dividend and a yield of 3.93%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 71.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PNW shares. UBS Group raised their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. 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 report on Tuesday, April 1st. Wells Fargo & Company raised their price target on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. Finally, BMO Capital Markets started coverage on shares of Pinnacle West Capital in a report on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.