Sherbrooke Park Advisers LLC Buys 3,906 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Sherbrooke Park Advisers LLC grew its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 37.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 14,447 shares of the utilities provider's stock after buying an additional 3,906 shares during the quarter. Pinnacle West Capital makes up about 0.4% of Sherbrooke Park Advisers LLC's investment portfolio, making the stock its 27th largest holding. Sherbrooke Park Advisers LLC's holdings in Pinnacle West Capital were worth $1,225,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PNW. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Pinnacle West Capital during the 4th quarter valued at $99,000. Point72 Hong Kong Ltd bought a new stake in Pinnacle West Capital during the 4th quarter valued at about $1,701,000. ProShare Advisors LLC boosted its position in Pinnacle West Capital by 8.6% during the fourth quarter. ProShare Advisors LLC now owns 24,202 shares of the utilities provider's stock valued at $2,052,000 after purchasing an additional 1,918 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Pinnacle West Capital by 62.2% in the fourth quarter. Quantinno Capital Management LP now owns 32,401 shares of the utilities provider's stock worth $2,747,000 after purchasing an additional 12,422 shares during the last quarter. Finally, Mufg Securities Americas Inc. purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth about $142,000. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Down 1.8%

PNW traded down $1.68 during trading hours on Wednesday, hitting $90.88. 370,845 shares of the company's stock were exchanged, compared to its average volume of 1,171,090. The stock's 50-day moving average is $92.91 and its two-hundred day moving average is $90.15. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 1-year low of $74.45 and a 1-year high of $96.50. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released 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 period last year, the firm earned $0.15 earnings per share. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be given a $0.895 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.58 annualized dividend and a yield of 3.94%. Pinnacle West Capital's dividend payout ratio is presently 71.17%.

Analysts Set New Price Targets

PNW has been the topic of a number of research reports. BMO Capital Markets began coverage on shares of Pinnacle West Capital in a research report on Tuesday, May 13th. They set a "market perform" rating and a $95.00 target price on the stock. Guggenheim reaffirmed a "buy" rating and issued a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. StockNews.com cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Jefferies Financial Group reduced their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their price objective on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $95.75.

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.