Teza Capital Management LLC Buys 21,891 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Teza Capital Management LLC grew its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 64.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,035 shares of the utilities provider's stock after buying an additional 21,891 shares during the period. Pinnacle West Capital makes up 0.7% of Teza Capital Management LLC's investment portfolio, making the stock its 19th largest holding. Teza Capital Management LLC's holdings in Pinnacle West Capital were worth $4,750,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Barclays PLC increased its position in shares of Pinnacle West Capital by 7.6% during the third quarter. Barclays PLC now owns 203,363 shares of the utilities provider's stock worth $18,014,000 after acquiring an additional 14,392 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Pinnacle West Capital by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider's stock worth $12,336,000 after purchasing an additional 9,993 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Pinnacle West Capital by 22.8% in the fourth quarter. Park Avenue Securities LLC now owns 3,213 shares of the utilities provider's stock worth $272,000 after purchasing an additional 597 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Pinnacle West Capital in the fourth quarter valued at approximately $924,000. Finally, Butensky & Cohen Financial Security Inc. lifted its holdings in shares of Pinnacle West Capital by 1.7% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 59,480 shares of the utilities provider's stock valued at $5,042,000 after purchasing an additional 969 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Trading Down 1.4%

Pinnacle West Capital stock traded down $1.24 during trading hours on Thursday, reaching $89.86. The stock had a trading volume of 976,590 shares, compared to its average volume of 1,126,147. The stock has a market cap of $10.73 billion, a PE ratio of 17.02, a PEG ratio of 3.59 and a beta of 0.45. The company has a fifty day simple moving average of $92.86 and a 200-day simple moving average of $90.15. 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 Co. has a 52 week low of $74.45 and a 52 week high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced 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). Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $988.95 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. Analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors 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 yield of 3.98%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's payout ratio is 71.17%.

Wall Street Analyst Weigh In

PNW has been the subject of a number of analyst reports. Jefferies Financial Group lowered their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company upped 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 report on Friday, May 2nd. Wall Street Zen lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Barclays boosted their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 1st. Finally, LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. One investment 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. According to MarketBeat, Pinnacle West Capital presently has a consensus rating of "Hold" and an average target price of $95.65.

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.