Occudo Quantitative Strategies LP Buys New Shares in Pinnacle West Capital Co. (NYSE:PNW)

Occudo Quantitative Strategies LP purchased a new stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,866 shares of the utilities provider's stock, valued at approximately $328,000.

Several other large investors also recently bought and sold shares of PNW. Vanguard Group Inc. grew its position in Pinnacle West Capital by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock worth $1,202,116,000 after purchasing an additional 143,716 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Pinnacle West Capital by 0.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock valued at $581,945,000 after acquiring an additional 37,768 shares during the period. Invesco Ltd. raised its stake in Pinnacle West Capital by 32.2% during the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock valued at $364,342,000 after acquiring an additional 1,045,788 shares during the last quarter. Geode Capital Management LLC raised its stake in Pinnacle West Capital by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider's stock valued at $243,897,000 after acquiring an additional 204,805 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Pinnacle West Capital by 33.4% during the 4th quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider's stock worth $206,420,000 after acquiring an additional 610,042 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Morgan Stanley reduced their target price on shares of Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a research note on Thursday. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. UBS Group raised their price objective 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. Finally, Jefferies Financial Group reduced their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $95.65.

Pinnacle West Capital Price Performance

NYSE:PNW traded down $0.68 during mid-day trading on Thursday, hitting $90.42. 210,574 shares of the company's stock traded hands, compared to its average volume of 1,123,169. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The company has a market cap of $10.80 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45. The firm's 50 day simple moving average is $92.86 and its 200 day simple moving average is $90.15. Pinnacle West Capital Co. has a 1 year low of $74.45 and a 1 year high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $988.95 million. During the same period last year, the business earned $0.15 earnings per share. The company's revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.895 per share. The ex-dividend date is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.96%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 71.17%.

About Pinnacle West Capital

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.