Aquatic Capital Management LLC Boosts Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Aquatic Capital Management LLC increased its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 368.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,193 shares of the utilities provider's stock after acquiring an additional 86,693 shares during the quarter. Aquatic Capital Management LLC owned about 0.10% of Pinnacle West Capital worth $9,341,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Pinnacle West Capital by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider's stock worth $12,336,000 after buying an additional 9,993 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Pinnacle West Capital by 47.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider's stock valued at $995,000 after purchasing an additional 3,758 shares during the period. Blue Trust Inc. increased its position in shares of Pinnacle West Capital by 33.3% during the fourth quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider's stock worth $128,000 after acquiring an additional 360 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Pinnacle West Capital by 14.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider's stock worth $363,000 after purchasing an additional 545 shares in the last quarter. Finally, MCF Advisors LLC raised its position in Pinnacle West Capital by 200.6% in the 4th quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider's stock valued at $522,000 after buying an additional 4,107 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PNW. Guggenheim restated a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Barclays lifted their price target on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 1st. Jefferies Financial Group reduced their price objective 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. Wells Fargo & Company boosted their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley increased their target price on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Pinnacle West Capital has a consensus rating of "Hold" and a consensus price target of $95.50.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock traded up $0.99 during trading on Friday, hitting $94.40. 358,649 shares of the company's stock traded hands, compared to its average volume of 1,098,969. Pinnacle West Capital Co. has a 1 year low of $74.45 and a 1 year high of $96.50. The business has a 50-day simple moving average of $92.91 and a 200-day simple moving average of $89.77. The stock has a market capitalization of $11.25 billion, a P/E ratio of 17.87, a PEG ratio of 3.59 and a beta of 0.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its 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). Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $988.95 million. During the same period last year, the firm posted $0.15 EPS. The company's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS 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. Stockholders of record on Monday, May 5th will be given 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 3.79%. Pinnacle West Capital's payout ratio is currently 68.58%.

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.