Wealth Enhancement Advisory Services LLC Buys 6,183 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 26.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,775 shares of the utilities provider's stock after buying an additional 6,183 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Pinnacle West Capital were worth $2,524,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. YANKCOM Partnership bought a new position in Pinnacle West Capital during the 4th quarter worth $29,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Pinnacle West Capital in the fourth quarter valued at about $35,000. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital during the fourth quarter worth about $38,000. Transcendent Capital Group LLC bought a new position in Pinnacle West Capital during the fourth quarter worth about $46,000. Finally, Allworth Financial LP raised its stake in Pinnacle West Capital by 125.9% in the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock worth $56,000 after purchasing an additional 365 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

PNW traded down $0.34 during trading on Friday, hitting $89.05. 781,701 shares of the stock traded hands, compared to its average volume of 1,118,931. The business has a 50 day moving average price of $92.05 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. Pinnacle West Capital Co. has a twelve month low of $74.45 and a twelve month high of $96.50. The company has a market cap of $10.63 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 3.59 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly 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). 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 the consensus estimate of $988.95 million. During the same quarter in the previous year, the business posted $0.15 EPS. The company's revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 5th were paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 4.02%. The ex-dividend date was Monday, May 5th. Pinnacle West Capital's payout ratio is 71.17%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. BMO Capital Markets assumed coverage on Pinnacle West Capital in a research note on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 price target for the company. Barclays raised their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 1st. Wall Street Zen cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, UBS Group upped their target price 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $97.00.

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.