Gotham Asset Management LLC Purchases 19,829 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Gotham Asset Management LLC grew its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 37.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,791 shares of the utilities provider's stock after purchasing an additional 19,829 shares during the period. Gotham Asset Management LLC owned about 0.06% of Pinnacle West Capital worth $6,170,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. raised its stake in Pinnacle West Capital by 0.9% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider's stock worth $1,163,000 after acquiring an additional 116 shares in the last quarter. Norinchukin Bank The increased its stake in shares of Pinnacle West Capital by 2.7% in the fourth quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider's stock valued at $373,000 after buying an additional 117 shares in the last quarter. New York Life Investment Management LLC increased its stake in shares of Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock valued at $1,264,000 after buying an additional 127 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Pinnacle West Capital by 10.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock valued at $135,000 after buying an additional 156 shares in the last quarter. Finally, 1620 Investment Advisors Inc. increased its stake in shares of Pinnacle West Capital by 3.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider's stock valued at $397,000 after buying an additional 162 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW traded up $1.22 during trading on Friday, reaching $91.74. 1,059,190 shares of the company traded hands, compared to its average volume of 1,120,733. The company's 50 day moving average is $92.87 and its two-hundred day moving average is $90.05. The firm has a market capitalization of $10.95 billion, a PE ratio of 17.38, a PEG ratio of 3.59 and a beta of 0.45. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 52 week low of $74.45 and a 52 week high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results 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 net margin of 12.26% and a return on equity of 9.60%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The business's revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

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. The ex-dividend date is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a yield of 3.90%. Pinnacle West Capital's payout ratio is presently 71.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley raised their target price 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 issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. BMO Capital Markets initiated coverage on Pinnacle West Capital in a research report on Tuesday. They issued a "market perform" rating and a $95.00 price objective for the company. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. Finally, Barclays lifted their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $95.75.

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.