Two Sigma Investments LP Has $81.52 Million Stake in Pinnacle West Capital Co. (NYSE:PNW)

Two Sigma Investments LP grew its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 133.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 961,616 shares of the utilities provider's stock after purchasing an additional 549,637 shares during the period. Two Sigma Investments LP owned approximately 0.85% of Pinnacle West Capital worth $81,516,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in 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 worth $12,336,000 after buying an additional 9,993 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Pinnacle West Capital by 47.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider's stock worth $995,000 after buying an additional 3,758 shares during the last quarter. Blue Trust Inc. increased its position in Pinnacle West Capital by 33.3% during the fourth quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider's stock worth $128,000 after buying an additional 360 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Pinnacle West Capital by 14.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider's stock worth $363,000 after buying an additional 545 shares during the last quarter. Finally, MCF Advisors LLC increased its position in Pinnacle West Capital by 200.6% during the fourth quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider's stock worth $522,000 after buying an additional 4,107 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Price Performance

Shares of PNW stock traded up $0.87 during trading on Friday, hitting $90.76. The company had a trading volume of 545,931 shares, compared to its average volume of 1,130,034. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm has a market capitalization of $10.84 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45. The stock's 50-day moving average price is $92.72 and its 200 day moving average price is $90.21. Pinnacle West Capital Co. has a one year low of $74.45 and a one year high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued 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). 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 during the quarter, compared to analyst estimates of $988.95 million. During the same period in the prior year, the business posted $0.15 EPS. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is presently 71.17%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PNW. BMO Capital Markets began coverage on Pinnacle West Capital in a research report on Tuesday, May 13th. They set a "market perform" rating and a $95.00 price target on the stock. UBS Group boosted their price target 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. Jefferies Financial Group lowered their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company upped their target price on Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Pinnacle West Capital presently has an average rating of "Hold" and a consensus 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.