Oxford Asset Management LLP Makes New Investment in Pinnacle West Capital Co. (NYSE:PNW)

Oxford Asset Management LLP bought a new position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,708 shares of the utilities provider's stock, valued at approximately $230,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. YANKCOM Partnership purchased a new stake in Pinnacle West Capital during the fourth quarter valued at about $29,000. Canada Post Corp Registered Pension Plan purchased a new stake in Pinnacle West Capital during the fourth quarter valued at about $35,000. Brown Lisle Cummings Inc. purchased a new stake in Pinnacle West Capital during the fourth quarter valued at about $38,000. Roble Belko & Company Inc purchased a new stake in Pinnacle West Capital during the fourth quarter valued at about $42,000. Finally, Transcendent Capital Group LLC purchased a new stake in Pinnacle West Capital during the fourth quarter valued at about $46,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Down 1.8 %

Shares of NYSE:PNW traded down $1.73 during trading on Thursday, reaching $93.45. 1,726,351 shares of the stock traded hands, compared to its average volume of 1,101,864. The stock has a 50-day moving average of $92.88 and a two-hundred day moving average of $89.72. Pinnacle West Capital Co. has a 52-week low of $74.45 and a 52-week high of $97.17. 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 stock has a market cap of $11.14 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The firm 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 company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS. As a group, sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's dividend payout ratio is 68.58%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PNW shares. Guggenheim reiterated a "buy" rating and set a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. UBS Group increased their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Jefferies Financial Group dropped their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company increased their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Pinnacle West Capital has an average rating of "Hold" and a consensus target price of $95.50.

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.