Twinbeech Capital LP boosted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 214.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 106,826 shares of the utilities provider's stock after buying an additional 72,896 shares during the period. Twinbeech Capital LP owned approximately 0.09% of Pinnacle West Capital worth $9,056,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. YANKCOM Partnership acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $29,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Pinnacle West Capital in the fourth quarter valued at $35,000. Brown Lisle Cummings Inc. bought a new position in shares of Pinnacle West Capital in the fourth quarter valued at $38,000. Transcendent Capital Group LLC bought a new position in shares of Pinnacle West Capital in the fourth quarter valued at $46,000. Finally, Allworth Financial LP grew its stake in shares of Pinnacle West Capital by 125.9% in the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock valued at $56,000 after buying an additional 365 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Guggenheim reissued a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Wall Street Zen cut shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Jefferies Financial Group decreased their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, UBS Group lifted their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. 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 data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of "Hold" and an average price target of $95.65.
View Our Latest Stock Report on PNW
Pinnacle West Capital Stock Performance
Shares of Pinnacle West Capital stock traded up $0.87 during trading on Friday, reaching $90.76. The company's stock had a trading volume of 545,931 shares, compared to its average volume of 1,130,034. The business's 50-day moving average price is $92.72 and its 200-day moving average price is $90.21. The firm has a market cap of $10.84 billion, a PE ratio of 17.19, a P/E/G ratio of 3.59 and a beta of 0.45. Pinnacle West Capital Co. has a 52 week low of $74.45 and a 52 week high of $96.50. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.
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 (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The business had revenue of $1.03 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. Equities analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.
Pinnacle West Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be given a $0.895 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.94%. Pinnacle West Capital's payout ratio is presently 71.17%.
Pinnacle West Capital Company Profile
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Free Report)
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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