Kovitz Investment Group Partners LLC Sells 95,654 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Kovitz Investment Group Partners LLC decreased its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 84.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,655 shares of the utilities provider's stock after selling 95,654 shares during the period. Kovitz Investment Group Partners LLC's holdings in Pinnacle West Capital were worth $1,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its stake in Pinnacle West Capital by 20.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 6,629 shares of the utilities provider's stock valued at $562,000 after purchasing an additional 1,144 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of Pinnacle West Capital by 65.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 471,183 shares of the utilities provider's stock worth $39,942,000 after acquiring an additional 186,600 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Pinnacle West Capital by 5.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 34,905 shares of the utilities provider's stock worth $2,959,000 after acquiring an additional 1,706 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Pinnacle West Capital by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 156,588 shares of the utilities provider's stock valued at $13,274,000 after purchasing an additional 559 shares during the last quarter. Finally, Yaupon Capital Management LP grew its position in Pinnacle West Capital by 16.0% in the 4th quarter. Yaupon Capital Management LP now owns 290,354 shares of the utilities provider's stock worth $24,613,000 after purchasing an additional 40,063 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

PNW has been the topic of a number of recent research reports. Barclays lifted their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 1st. Morgan Stanley boosted their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Jefferies Financial Group reduced their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Guggenheim restated a "buy" rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a research report on Tuesday, April 22nd. Seven investment 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, the stock has an average rating of "Hold" and a consensus price target of $95.83.

Pinnacle West Capital Price Performance

Shares of PNW traded up $0.85 on Friday, hitting $94.26. The company's stock had a trading volume of 912,210 shares, compared to its average volume of 1,101,330. The company has a 50 day moving average price of $92.93 and a 200 day moving average price of $89.82. 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 market capitalization of $11.24 billion, a PE ratio of 17.85, a PEG ratio of 3.59 and a beta of 0.42. 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 (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 the consensus estimate of $0.05 by ($0.09). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Pinnacle West Capital's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. On average, research analysts anticipate 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 will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be paid a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is presently 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.