First Trust Advisors LP Increases Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

First Trust Advisors LP raised its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 173.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 879,551 shares of the utilities provider's stock after purchasing an additional 557,539 shares during the period. First Trust Advisors LP owned about 0.77% of Pinnacle West Capital worth $74,560,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Pinnacle West Capital by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock valued at $1,202,116,000 after purchasing an additional 143,716 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Pinnacle West Capital by 0.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock valued at $581,945,000 after purchasing an additional 37,768 shares during the last quarter. Invesco Ltd. grew its holdings in Pinnacle West Capital by 32.2% in the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock valued at $364,342,000 after purchasing an additional 1,045,788 shares during the last quarter. Geode Capital Management LLC grew its holdings in Pinnacle West Capital by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider's stock valued at $243,897,000 after purchasing an additional 204,805 shares during the last quarter. Finally, Norges Bank acquired a new stake in Pinnacle West Capital in the fourth quarter valued at $194,655,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

PNW has been the topic of several research reports. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a report on Tuesday, April 22nd. Barclays increased their price objective on 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. Morgan Stanley increased their price objective 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. Wells Fargo & Company increased their price objective 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, 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 note on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $95.50.

Pinnacle West Capital Trading Down 0.8 %

Shares of Pinnacle West Capital stock traded down $0.74 during trading hours on Friday, reaching $93.74. The stock had a trading volume of 956,390 shares, compared to its average volume of 1,100,127. The firm has a 50 day simple moving average of $92.64 and a two-hundred day simple moving average of $89.58. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 3.59 and a beta of 0.42. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 1 year low of $72.78 and a 1 year high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.25. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. As a group, equities research analysts anticipate 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 declared 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. This represents a $3.58 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital's dividend payout ratio is presently 68.58%.

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.