Wealth Enhancement Advisory Services LLC Increases Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 26.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

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

Analyst Ratings Changes

PNW has been the subject of several analyst reports. Barclays increased their price target on shares of 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. Morgan Stanley decreased their target price on shares of Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. Wall Street Zen 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 initiated 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. Finally, UBS Group increased their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a 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, Pinnacle West Capital has an average rating of "Hold" and an average price target of $95.65.

Pinnacle West Capital Stock Performance

PNW traded down $0.34 on Friday, reaching $89.05. 781,701 shares of the stock were exchanged, compared to its average volume of 1,117,339. The company's 50-day moving average price is $92.17 and its 200 day moving average price is $90.18. Pinnacle West Capital Co. has a fifty-two week low of $74.45 and a fifty-two week high of $96.50. 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 firm has a market capitalization of $10.63 billion, a PE 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 announced its quarterly earnings data 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 company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. As a group, sell-side 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 was paid on Monday, June 2nd. Stockholders of record on Monday, May 5th were issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is 71.17%.

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.