Paloma Partners Management Co grew its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 111.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 233,672 shares of the utilities provider’s stock after purchasing an additional 123,040 shares during the period. Pinnacle West Capital makes up about 0.3% of Paloma Partners Management Co’s holdings, making the stock its 25th biggest position. Paloma Partners Management Co’s holdings in Pinnacle West Capital were worth $19,905,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of PNW. Nationwide Fund Advisors raised its position in shares of Pinnacle West Capital by 5.5% in the third quarter. Nationwide Fund Advisors now owns 211,872 shares of the utilities provider’s stock valued at $17,916,000 after purchasing an additional 11,132 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Pinnacle West Capital in the third quarter valued at approximately $908,000. State of Wisconsin Investment Board raised its position in shares of Pinnacle West Capital by 7.4% in the third quarter. State of Wisconsin Investment Board now owns 89,116 shares of the utilities provider’s stock valued at $7,536,000 after purchasing an additional 6,156 shares during the period. Swiss National Bank increased its holdings in Pinnacle West Capital by 1.3% during the 3rd quarter. Swiss National Bank now owns 410,851 shares of the utilities provider’s stock worth $34,742,000 after acquiring an additional 5,200 shares during the period. Finally, Jennison Associates LLC increased its holdings in Pinnacle West Capital by 25.4% during the 3rd quarter. Jennison Associates LLC now owns 766,163 shares of the utilities provider’s stock worth $64,787,000 after acquiring an additional 155,085 shares during the period. 82.65% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on PNW shares. Royal Bank of Canada raised shares of Pinnacle West Capital from a “sector perform” rating to an “outperform” rating in a report on Thursday. Zacks Investment Research lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Morgan Stanley upped their target price on shares of Pinnacle West Capital from $90.00 to $91.00 and gave the stock an “underweight” rating in a report on Wednesday, December 13th. SunTrust Banks set a $82.00 target price on shares of Pinnacle West Capital and gave the stock a “hold” rating in a report on Friday, February 23rd. Finally, ValuEngine lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Pinnacle West Capital presently has an average rating of “Hold” and a consensus price target of $84.27.
Pinnacle West Capital Co. (PNW) opened at $76.38 on Monday. The company has a market cap of $8,539.27, a price-to-earnings ratio of 17.56, a PEG ratio of 5.77 and a beta of 0.31. Pinnacle West Capital Co. has a twelve month low of $73.81 and a twelve month high of $92.48. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.
Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.09. The firm had revenue of $759.65 million for the quarter, compared to analyst estimates of $773.12 million. Pinnacle West Capital had a net margin of 13.70% and a return on equity of 9.59%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. equities research analysts expect that Pinnacle West Capital Co. will post 4.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st were issued a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Wednesday, January 31st. Pinnacle West Capital’s payout ratio is 63.91%.
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Pinnacle West Capital Profile
Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.
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