Marshall Wace LLP Raises Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Marshall Wace LLP boosted its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 266.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,739 shares of the utilities provider's stock after purchasing an additional 50,692 shares during the quarter. Marshall Wace LLP owned about 0.06% of Pinnacle West Capital worth $5,912,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Zacks Investment Management bought a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $209,000. Jump Financial LLC lifted its position in Pinnacle West Capital by 11.0% in the 4th quarter. Jump Financial LLC now owns 71,706 shares of the utilities provider's stock worth $6,079,000 after buying an additional 7,116 shares during the last quarter. Bridgewater Associates LP raised its position in Pinnacle West Capital by 56.7% in the 4th quarter. Bridgewater Associates LP now owns 159,804 shares of the utilities provider's stock worth $13,547,000 after purchasing an additional 57,834 shares during the period. Canada Post Corp Registered Pension Plan bought a new stake in Pinnacle West Capital in the 4th quarter worth $35,000. Finally, Mariner LLC raised its holdings in shares of Pinnacle West Capital by 7.8% during the fourth quarter. Mariner LLC now owns 27,239 shares of the utilities provider's stock valued at $2,309,000 after acquiring an additional 1,960 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PNW shares. Guggenheim reissued a "buy" rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Morgan Stanley boosted their price objective on shares of 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. Barclays lifted their target price 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 lifted their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Finally, LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a research note on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Pinnacle West Capital has an average rating of "Hold" and an average target price of $95.50.

Pinnacle West Capital Stock Performance

Shares of PNW stock traded up $0.14 during trading hours on Tuesday, hitting $94.73. The stock had a trading volume of 79,229 shares, compared to its average volume of 1,094,925. The stock's 50 day moving average is $92.72 and its 200 day moving average is $89.64. The firm has a market capitalization of $11.29 billion, a PE ratio of 18.00, a PEG ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a twelve month low of $72.78 and a twelve month 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.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. As a group, 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 disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be given a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's payout ratio is 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.