Point72 Hong Kong Ltd bought a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,066 shares of the utilities provider's stock, valued at approximately $1,701,000.
A number of other large investors have also recently bought and sold shares of PNW. YANKCOM Partnership bought a new stake in Pinnacle West Capital during the fourth quarter worth $29,000. Canada Post Corp Registered Pension Plan bought a new stake in Pinnacle West Capital during the 4th quarter worth approximately $35,000. Brown Lisle Cummings Inc. acquired a new stake in Pinnacle West Capital in the fourth quarter valued at $38,000. Roble Belko & Company Inc bought a new position in shares of Pinnacle West Capital during the fourth quarter worth about $42,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Pinnacle West Capital in the fourth quarter worth approximately $46,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on PNW shares. Jefferies Financial Group decreased their price target 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. StockNews.com downgraded shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Wells Fargo & Company increased their price target on Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research note on Friday, May 9th. Finally, UBS Group raised their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $95.75.
Check Out Our Latest Stock Analysis on PNW
Pinnacle West Capital Stock Performance
Shares of NYSE PNW traded up $0.70 during mid-day trading on Monday, hitting $92.44. The company had a trading volume of 1,467,339 shares, compared to its average volume of 1,124,238. Pinnacle West Capital Co. has a 1 year low of $74.45 and a 1 year high of $96.50. The stock's 50-day moving average price is $92.90 and its 200-day moving average price is $90.13. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 3.59 and a beta of 0.45.
Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly 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). The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $988.95 million. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. On average, sell-side analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.
Pinnacle West Capital Dividend Announcement
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 paid a $0.895 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a yield of 3.87%. Pinnacle West Capital's dividend payout ratio is presently 71.17%.
About Pinnacle West Capital
(
Free Report)
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.
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