Mercer Global Advisors Inc. ADV Sells 8,141 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Mercer Global Advisors Inc. ADV cut its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,654 shares of the utilities provider's stock after selling 8,141 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Pinnacle West Capital were worth $4,209,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. YANKCOM Partnership acquired a new position in Pinnacle West Capital during the 4th quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan bought a new position in Pinnacle West Capital in the fourth quarter valued at $35,000. Brown Lisle Cummings Inc. acquired a new stake in Pinnacle West Capital in the 4th quarter valued at $38,000. Roble Belko & Company Inc acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth about $42,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $46,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PNW has been the topic of a number of analyst reports. Barclays upped 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. Jefferies Financial Group lowered their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price target on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Guggenheim reiterated a "buy" rating and set a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, UBS Group lifted their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Pinnacle West Capital has a consensus rating of "Hold" and a consensus target price of $95.83.

Pinnacle West Capital Stock Performance

NYSE PNW traded down $0.30 during trading on Friday, reaching $91.71. The company's stock had a trading volume of 927,147 shares, compared to its average volume of 1,110,575. The firm has a 50 day moving average price of $93.01 and a 200 day moving average price of $89.98. Pinnacle West Capital Co. has a 12 month low of $74.45 and a 12 month high of $96.50. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $988.95 million. During the same quarter last year, the firm posted $0.15 earnings per share. The company's quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 5th will be given a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.58 annualized dividend and a dividend yield of 3.90%. Pinnacle West Capital's dividend payout ratio 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.