NYSE:PNW - Free Report ) by 1,267.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 311,861 shares of the utilities provider's stock after acquiring an additional 289,061 shares during the period. Victory Capital Management Inc. owned about 0.28% of Pinnacle West Capital worth $22,404,000 at the end of the most recent reporting period.
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A number of other institutional investors also recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. lifted its holdings in Pinnacle West Capital by 338.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 274 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Pinnacle West Capital in the 4th quarter worth approximately $26,000. Tobam boosted its holdings in shares of Pinnacle West Capital by 2,620.0% in the 4th quarter. Tobam now owns 408 shares of the utilities provider's stock worth $29,000 after acquiring an additional 393 shares in the last quarter. Blue Trust Inc. grew its position in Pinnacle West Capital by 985.7% during the 4th quarter. Blue Trust Inc. now owns 532 shares of the utilities provider's stock worth $39,000 after acquiring an additional 483 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in Pinnacle West Capital during the 3rd quarter valued at $52,000. 91.51% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth Several research firms have weighed in on PNW. Wells Fargo & Company raised their price objective on shares of Pinnacle West Capital from $74.00 to $77.00 and gave the company an "equal weight" rating in a research report on Friday, May 3rd. Evercore ISI decreased their price objective on Pinnacle West Capital from $76.00 to $69.00 and set an "in-line" rating on the stock in a research report on Monday, March 4th. StockNews.com downgraded Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Thursday, March 14th. Guggenheim raised Pinnacle West Capital from a "neutral" rating to a "buy" rating and set a $78.00 price target on the stock in a research note on Monday, January 22nd. Finally, Royal Bank of Canada lowered their price objective on Pinnacle West Capital from $83.00 to $80.00 and set a "sector perform" rating for the company in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $73.67.
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Pinnacle West Capital Trading Up 1.0 % NYSE PNW traded up $0.77 during trading on Thursday, reaching $77.40. 979,534 shares of the stock traded hands, compared to its average volume of 1,294,395. The stock's 50-day moving average price is $72.89 and its 200 day moving average price is $72.13. The company has a quick ratio of 0.42, a current ratio of 0.58 and a debt-to-equity ratio of 1.20. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 2.12 and a beta of 0.48. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $86.03.
Pinnacle West Capital (NYSE:PNW - Get Free Report ) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.17. The firm had revenue of $951.71 million for the quarter, compared to analyst estimates of $981.82 million. Pinnacle West Capital had a net margin of 11.09% and a return on equity of 8.29%. The business's revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Analysts predict that Pinnacle West Capital Co. will post 4.72 EPS for the current year.
Pinnacle West Capital Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 1st will be issued a dividend of $0.88 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.55%. Pinnacle West Capital's payout ratio is presently 76.69%.
Pinnacle West Capital Company Profile (
Free Report )
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.
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