Pinnacle West Capital Co. (NYSE:PNW) Position Increased by ERn Financial LLC

ERn Financial LLC raised its holdings in shares of Pinnacle West Capital Co. (NYSE:PNWGet Rating) by 31.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,405 shares of the utilities provider’s stock after purchasing an additional 1,282 shares during the period. ERn Financial LLC’s holdings in Pinnacle West Capital were worth $422,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Pinnacle West Capital by 1.8% during the first quarter. Vanguard Group Inc. now owns 13,338,202 shares of the utilities provider’s stock worth $1,041,714,000 after acquiring an additional 241,019 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Pinnacle West Capital by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,117,198 shares of the utilities provider’s stock worth $220,043,000 after acquiring an additional 159,020 shares during the last quarter. Invesco Ltd. grew its position in Pinnacle West Capital by 1.8% in the 4th quarter. Invesco Ltd. now owns 2,729,735 shares of the utilities provider’s stock valued at $192,692,000 after buying an additional 49,459 shares in the last quarter. Geode Capital Management LLC grew its position in Pinnacle West Capital by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,149,085 shares of the utilities provider’s stock valued at $151,478,000 after buying an additional 34,824 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Pinnacle West Capital by 10.0% in the 1st quarter. Bank of New York Mellon Corp now owns 995,906 shares of the utilities provider’s stock valued at $77,780,000 after buying an additional 90,325 shares in the last quarter. Institutional investors own 86.21% of the company’s stock.

Pinnacle West Capital Trading Down 0.1 %

NYSE:PNW opened at $76.65 on Friday. The stock’s 50 day moving average price is $74.19 and its 200 day moving average price is $74.28. Pinnacle West Capital Co. has a 52 week low of $62.78 and a 52 week high of $80.51. The company has a market capitalization of $8.66 billion, a P/E ratio of 15.84 and a beta of 0.31. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.69 and a current ratio of 0.89.

Pinnacle West Capital (NYSE:PNWGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The utilities provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.41 by $0.04. Pinnacle West Capital had a return on equity of 9.04% and a net margin of 13.88%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $974.60 million. During the same quarter last year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts forecast that Pinnacle West Capital Co. will post 3.98 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 1st were given a $0.85 dividend. The ex-dividend date of this dividend was Friday, July 29th. This represents a $3.40 annualized dividend and a dividend yield of 4.44%. Pinnacle West Capital’s dividend payout ratio is 70.25%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNW. Credit Suisse Group increased their target price on shares of Pinnacle West Capital to $69.00 in a research report on Tuesday, August 9th. Mizuho upped their price target on shares of Pinnacle West Capital from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, August 9th. Barclays cut their price target on shares of Pinnacle West Capital from $78.00 to $68.00 and set an “underweight” rating for the company in a report on Monday, July 18th. UBS Group cut their price target on shares of Pinnacle West Capital from $74.00 to $67.00 and set a “sell” rating for the company in a report on Thursday, June 30th. Finally, TheStreet raised shares of Pinnacle West Capital from a “c+” rating to a “b” rating in a report on Thursday, August 18th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.92.

Pinnacle West Capital Company Profile

(Get Rating)

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, 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.

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Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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