Yaupon Capital Management LP Has $24.61 Million Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Yaupon Capital Management LP lifted its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 290,354 shares of the utilities provider's stock after acquiring an additional 40,063 shares during the quarter. Pinnacle West Capital makes up 1.0% of Yaupon Capital Management LP's portfolio, making the stock its 25th biggest holding. Yaupon Capital Management LP owned 0.26% of Pinnacle West Capital worth $24,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNW. YANKCOM Partnership bought a new stake in Pinnacle West Capital in the fourth quarter worth $29,000. Canada Post Corp Registered Pension Plan bought a new stake in Pinnacle West Capital during the fourth quarter valued at about $35,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $38,000. Roble Belko & Company Inc bought a new position in shares of Pinnacle West Capital in the fourth quarter worth about $42,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth about $46,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock traded down $0.74 during mid-day trading on Friday, hitting $93.74. 956,390 shares of the company were exchanged, compared to its average volume of 1,100,127. The company has a market capitalization of $11.18 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42. The business has a fifty day moving average of $92.64 and a 200 day moving average of $89.58. Pinnacle West Capital Co. has a 1-year low of $72.78 and a 1-year high of $96.50. 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 (NYSE:PNW - Get Free Report) last posted its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.25. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. As a group, sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be given a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 3.82%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's payout ratio is presently 68.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PNW shares. UBS Group increased their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group dropped their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a report on Tuesday, April 22nd. Finally, Morgan Stanley lifted their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $95.50.

Pinnacle West Capital 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.