Teza Capital Management LLC Raises Stake in Pinnacle West Capital Co. (NYSE:PNW)

Teza Capital Management LLC grew its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 64.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,035 shares of the utilities provider's stock after acquiring an additional 21,891 shares during the quarter. Pinnacle West Capital accounts for 0.7% of Teza Capital Management LLC's portfolio, making the stock its 19th biggest holding. Teza Capital Management LLC's holdings in Pinnacle West Capital were worth $4,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of PNW. Principal Financial Group Inc. increased its position in shares of Pinnacle West Capital by 7.7% during the third quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider's stock valued at $12,336,000 after acquiring an additional 9,993 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Pinnacle West Capital by 47.2% during the 4th 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 last quarter. Blue Trust Inc. increased its holdings in shares of Pinnacle West Capital by 33.3% in the 4th quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider's stock worth $128,000 after purchasing an additional 360 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of 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 worth $363,000 after purchasing an additional 545 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in shares of Pinnacle West Capital by 200.6% in the fourth quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider's stock worth $522,000 after purchasing an additional 4,107 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Performance

Shares of PNW traded up $0.45 on Friday, reaching $90.34. The company's stock had a trading volume of 134,922 shares, compared to its average volume of 1,124,020. The stock's 50 day simple moving average is $92.77 and its two-hundred day simple moving average is $90.18. 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 stock has a market capitalization of $10.79 billion, a P/E ratio of 17.10, a PEG ratio of 3.59 and a beta of 0.45. Pinnacle West Capital Co. has a 12-month low of $74.45 and a 12-month high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data 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 business 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 12.26% and a return on equity of 9.60%. The company's revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. Research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 yield of 3.96%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's dividend payout ratio is presently 71.17%.

Wall Street Analysts Forecast Growth

PNW has been the topic of several recent analyst reports. Morgan Stanley dropped their price objective on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Thursday. Wells Fargo & Company raised their price target on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. UBS Group lifted their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Wall Street Zen cut shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $95.65.

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.