Occudo Quantitative Strategies LP Makes New $328,000 Investment in Pinnacle West Capital Co. (NYSE:PNW)

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

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Pinnacle West Capital during the 4th quarter valued at approximately $194,655,000. Invesco Ltd. increased its stake in shares of Pinnacle West Capital by 32.2% in the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock worth $364,342,000 after acquiring an additional 1,045,788 shares during the last quarter. Merewether Investment Management LP acquired a new stake in shares of Pinnacle West Capital during the 4th quarter worth about $69,233,000. Deutsche Bank AG increased its position in shares of 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 purchasing an additional 610,042 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Pinnacle West Capital by 173.1% during the 4th quarter. First Trust Advisors LP now owns 879,551 shares of the utilities provider's stock worth $74,560,000 after purchasing an additional 557,539 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group lifted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley lifted their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Guggenheim restated a "buy" rating and set a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. Finally, BMO Capital Markets began coverage on Pinnacle West Capital in a research note on Tuesday, May 13th. They set a "market perform" rating and a $95.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Pinnacle West Capital currently has an average rating of "Hold" and a consensus target price of $95.75.

Pinnacle West Capital Stock Up 0.0%

Shares of NYSE:PNW traded up $0.01 during mid-day trading on Tuesday, hitting $92.49. 732,532 shares of the company traded hands, compared to its average volume of 1,122,682. The firm has a market cap of $11.04 billion, a P/E ratio of 17.52, a PEG ratio of 3.59 and a beta of 0.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 52-week low of $74.45 and a 52-week high of $96.50. The firm's 50 day simple moving average is $92.91 and its 200 day simple moving average is $90.15.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its 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 analysts' expectations of $988.95 million. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. On average, equities analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's payout ratio is currently 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.