Brevan Howard Capital Management LP Has $4.91 Million Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Brevan Howard Capital Management LP boosted its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 442.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,915 shares of the utilities provider's stock after buying an additional 47,232 shares during the period. Brevan Howard Capital Management LP owned approximately 0.05% of Pinnacle West Capital worth $4,909,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bridgefront Capital LLC boosted its position in Pinnacle West Capital by 564.4% in the 4th quarter. Bridgefront Capital LLC now owns 19,959 shares of the utilities provider's stock valued at $1,692,000 after buying an additional 16,955 shares during the period. Captrust Financial Advisors raised its holdings in shares of Pinnacle West Capital by 1.2% in the fourth quarter. Captrust Financial Advisors now owns 740,965 shares of the utilities provider's stock worth $62,812,000 after buying an additional 8,934 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Pinnacle West Capital by 2.2% in the fourth quarter. Baird Financial Group Inc. now owns 25,111 shares of the utilities provider's stock worth $2,129,000 after purchasing an additional 550 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Pinnacle West Capital by 23.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 610,413 shares of the utilities provider's stock valued at $51,745,000 after buying an additional 115,346 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Pinnacle West Capital by 49.6% during the 4th quarter. Bank of America Corp DE now owns 845,493 shares of the utilities provider's stock valued at $71,672,000 after purchasing an additional 280,460 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PNW shares. Guggenheim reissued a "buy" rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. StockNews.com lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Monday. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a research note on Tuesday, April 22nd. Wells Fargo & Company lifted their price target on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley raised their target price on 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Pinnacle West Capital currently has a consensus rating of "Hold" and a consensus price target of $95.83.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW traded down $0.30 during midday trading on Friday, reaching $91.71. 927,147 shares of the company traded hands, compared to its average volume of 1,110,575. Pinnacle West Capital Co. has a 52 week low of $74.45 and a 52 week high of $96.50. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 3.59 and a beta of 0.45. The stock has a 50-day moving average price of $93.01 and a 200 day moving average price of $89.98. 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 quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 EPS. Sell-side analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

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 $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's dividend payout ratio (DPR) is presently 71.17%.

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.