Pinnacle West Capital Co. (NYSE:PNW) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 27.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,146,185 shares of the utilities provider's stock after purchasing an additional 245,003 shares during the period. Nuveen Asset Management LLC owned about 1.01% of Pinnacle West Capital worth $97,162,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at approximately $29,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Pinnacle West Capital in the fourth quarter worth $35,000. Brown Lisle Cummings Inc. acquired a new stake in Pinnacle West Capital in the fourth quarter valued at $38,000. Transcendent Capital Group LLC bought a new position in Pinnacle West Capital during the 4th quarter valued at $46,000. Finally, Allworth Financial LP boosted its stake in Pinnacle West Capital by 125.9% during the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock valued at $56,000 after acquiring an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock traded down $0.68 on Thursday, reaching $90.42. 210,574 shares of the company were exchanged, compared to its average volume of 1,123,187. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 3.59 and a beta of 0.45. Pinnacle West Capital Co. has a 1-year low of $74.45 and a 1-year high of $96.50. 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 company's 50-day moving average is $92.86 and its two-hundred day moving average is $90.15.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $988.95 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. Pinnacle West Capital's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research 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 disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 5th will be given a $0.895 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.58 annualized dividend and a yield of 3.96%. Pinnacle West Capital's dividend payout ratio is presently 71.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 1st. UBS Group boosted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, March 21st. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. BMO Capital Markets assumed coverage on Pinnacle West Capital in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 target price for the company. Finally, Guggenheim reissued a "buy" rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $95.65.

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.