Guggenheim Capital LLC Reduces Stake in Pinnacle West Capital Co. (NYSE:PNW)

Guggenheim Capital LLC trimmed its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 86.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,095 shares of the utilities provider's stock after selling 188,260 shares during the quarter. Guggenheim Capital LLC's holdings in Pinnacle West Capital were worth $2,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 period. Blue Trust Inc. increased its holdings in shares of Pinnacle West Capital by 33.3% in the fourth quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider's stock valued at $128,000 after purchasing an additional 360 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of 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 acquiring an additional 545 shares during the period. Finally, MCF Advisors LLC increased its position in Pinnacle West Capital by 200.6% during the 4th quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider's stock worth $522,000 after purchasing an additional 4,107 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PNW shares. UBS Group increased their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group lowered their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a research note on Tuesday. Guggenheim restated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price objective on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Seven analysts have rated the stock with 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 an average price target of $95.50.

Pinnacle West Capital Stock Down 0.8 %

PNW traded down $0.76 during trading on Friday, hitting $93.72. The company had a trading volume of 121,213 shares, compared to its average volume of 1,094,594. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $11.17 billion, a PE ratio of 17.77, a PEG ratio of 3.59 and a beta of 0.42. The firm's 50-day moving average price is $92.56 and its 200 day moving average price is $89.48. Pinnacle West Capital Co. has a one year low of $72.78 and a one year high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. As a group, equities analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The firm 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 dividend of $0.895 per share. The ex-dividend date is Monday, May 5th. This represents a $3.58 annualized dividend and a yield of 3.82%. Pinnacle West Capital's dividend payout ratio is currently 68.58%.

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.