Two Sigma Investments LP Buys 549,637 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Two Sigma Investments LP increased its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 133.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 961,616 shares of the utilities provider's stock after purchasing an additional 549,637 shares during the quarter. Two Sigma Investments LP owned approximately 0.85% of Pinnacle West Capital worth $81,516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Pinnacle West Capital by 7.6% in the 3rd quarter. Barclays PLC now owns 203,363 shares of the utilities provider's stock worth $18,014,000 after buying an additional 14,392 shares during the period. Principal Financial Group Inc. lifted its stake in Pinnacle West Capital by 7.7% in the third quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider's stock worth $12,336,000 after acquiring an additional 9,993 shares during the period. Park Avenue Securities LLC grew its holdings in Pinnacle West Capital by 22.8% during the 4th quarter. Park Avenue Securities LLC now owns 3,213 shares of the utilities provider's stock worth $272,000 after acquiring an additional 597 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in Pinnacle West Capital during the 4th quarter valued at about $924,000. Finally, Ellsworth Advisors LLC increased its position in Pinnacle West Capital by 9.6% during the 4th quarter. Ellsworth Advisors LLC now owns 20,731 shares of the utilities provider's stock valued at $1,757,000 after purchasing an additional 1,820 shares during the period. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Up 0.8%

Pinnacle West Capital stock opened at $92.44 on Tuesday. Pinnacle West Capital Co. has a 1-year low of $74.45 and a 1-year high of $96.50. The business has a fifty day moving average price of $92.90 and a 200-day moving average price of $90.13. 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 $11.04 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 3.59 and a beta of 0.45.

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 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 analysts' expectations of $988.95 million. During the same quarter last year, the business posted $0.15 earnings per share. The company's quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently announced 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 3.87%. 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 equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. BMO Capital Markets started coverage on Pinnacle West Capital in a research report on Tuesday, May 13th. They set a "market perform" rating and a $95.00 target price 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. Guggenheim restated a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group cut their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. One research 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 has an average rating of "Hold" and a consensus target price of $95.75.

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.

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