Pinnacle West Capital Corporation (NYSE:PNW) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 20.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,824 shares of the utilities provider's stock after buying 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 and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNW. Canada Post Corp Registered Pension Plan purchased a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $35,000. Spirit of America Management Corp NY purchased a new stake in Pinnacle West Capital in the first quarter valued at approximately $57,000. Resona Asset Management Co. Ltd. purchased a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $60,000. Tsfg LLC purchased a new stake in shares of Pinnacle West Capital during the first quarter worth approximately $60,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Pinnacle West Capital by 125.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 842 shares of the utilities provider's stock worth $71,000 after purchasing an additional 468 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Barclays increased their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 1st. UBS Group increased their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Wall Street Zen cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Finally, LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $97.00.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock traded up $0.38 during trading on Wednesday, hitting $90.00. 623,039 shares of the stock were exchanged, compared to its average volume of 1,138,803. The stock's fifty day moving average is $90.54 and its 200 day moving average is $90.02. The stock has a market cap of $10.75 billion, a PE ratio of 17.89, a P/E/G ratio of 9.42 and a beta of 0.42. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.34 and a current ratio of 0.50. Pinnacle West Capital Corporation has a 12 month low of $76.00 and a 12 month high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a return on equity of 8.78% and a net margin of 11.28%. The firm's revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 EPS. As a group, sell-side analysts anticipate that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 1st will be given a $0.895 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.58 dividend on an annualized basis and a yield of 3.98%. Pinnacle West Capital's dividend payout ratio is presently 71.17%.

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.