Susquehanna Fundamental Investments LLC Takes $14.28 Million Position in Pinnacle West Capital Co. (NYSE:PNW)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 168,404 shares of the utilities provider's stock, valued at approximately $14,276,000. Susquehanna Fundamental Investments LLC owned 0.15% of Pinnacle West Capital as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. YANKCOM Partnership purchased a new stake in Pinnacle West Capital during the 4th quarter valued at approximately $29,000. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth approximately $35,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital during the fourth quarter worth $38,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital during the fourth quarter worth $42,000. Finally, Transcendent Capital Group LLC purchased a new position in Pinnacle West Capital in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock traded up $0.95 on Friday, hitting $94.36. The company's stock had a trading volume of 358,649 shares, compared to its average volume of 1,098,969. The company has a market capitalization of $11.25 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 52-week low of $74.45 and a 52-week high of $96.50. The firm has a fifty day moving average price of $92.91 and a 200-day moving average price of $89.77. 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 (NYSE:PNW - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $988.95 million. During the same period last year, the company earned $0.15 EPS. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities 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 declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.79%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 68.58%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PNW. Barclays lifted 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 report on Tuesday, April 1st. Guggenheim reiterated a "buy" rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their price target 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. UBS Group raised their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a report on Tuesday, April 22nd. Seven research 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, Pinnacle West Capital presently has a consensus rating of "Hold" and a consensus price target of $95.50.

About Pinnacle West Capital

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.