Stifel Financial Corp Purchases 22,319 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Stifel Financial Corp boosted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,084 shares of the utilities provider's stock after purchasing an additional 22,319 shares during the quarter. Stifel Financial Corp owned about 0.14% of Pinnacle West Capital worth $13,825,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of PNW. YANKCOM Partnership bought a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $29,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $35,000. Brown Lisle Cummings Inc. bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at approximately $38,000. Roble Belko & Company Inc purchased a new stake in Pinnacle West Capital during the 4th quarter valued at $42,000. Finally, Transcendent Capital Group LLC bought a new stake in Pinnacle West Capital in the fourth quarter worth $46,000. Institutional investors own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of analyst reports. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a research report on Tuesday, April 22nd. Morgan Stanley raised their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. UBS Group upped their target price 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. Barclays boosted their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a report on Tuesday, April 1st. Finally, Guggenheim reiterated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital currently has an average rating of "Hold" and a consensus target price of $95.50.

Pinnacle West Capital Stock Up 0.9 %

Shares of PNW stock traded up $0.84 on Friday, hitting $94.25. The stock had a trading volume of 289,279 shares, compared to its average volume of 1,159,836. 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 one year low of $74.45 and a one year high of $96.50. The business has a 50 day moving average price of $92.91 and a 200 day moving average price of $89.77. The company has a market cap of $11.24 billion, a PE ratio of 17.85, a P/E/G ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Pinnacle West Capital's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 earnings per share. Research analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be issued a $0.895 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.80%. 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.