UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in Pinnacle West Capital Co. (NYSE:PNW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 9.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 313,408 shares of the utilities provider's stock after buying an additional 25,753 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.28% of Pinnacle West Capital worth $26,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. raised its stake in Pinnacle West Capital by 0.9% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider's stock valued at $1,163,000 after acquiring an additional 116 shares during the period. Norinchukin Bank The raised its stake in Pinnacle West Capital by 2.7% in the 4th quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider's stock valued at $373,000 after acquiring an additional 117 shares during the period. New York Life Investment Management LLC raised its stake in Pinnacle West Capital by 0.9% in the 4th quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock valued at $1,264,000 after acquiring an additional 127 shares during the period. Global Retirement Partners LLC raised its stake in Pinnacle West Capital by 10.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock valued at $135,000 after acquiring an additional 156 shares during the period. Finally, 1620 Investment Advisors Inc. raised its stake in Pinnacle West Capital by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider's stock valued at $397,000 after acquiring an additional 162 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PNW. Wall Street Zen cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Wells Fargo & Company upped their price target 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. Barclays upped their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 1st. UBS Group upped their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. 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 assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $95.65.

Pinnacle West Capital Price Performance

Shares of NYSE PNW traded up $0.37 during midday trading on Friday, hitting $91.21. 1,045,829 shares of the company's stock were exchanged, compared to its average volume of 1,132,731. The company has a market cap of $10.89 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 3.59 and a beta of 0.45. The business's fifty day moving average price is $92.48 and its two-hundred day moving average price is $90.21. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. 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 earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. As a group, research analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be paid a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 3.93%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's dividend payout ratio is currently 71.17%.

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.