Pinnacle West Capital Co. (NYSE:PNW) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Pinnacle West Capital Co. (NYSE:PNW) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 993,886 shares of the utilities provider’s stock after purchasing an additional 43,450 shares during the quarter. Dimensional Fund Advisors LP owned about 0.87% of Pinnacle West Capital worth $84,252,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on PNW. Morgan Stanley upped their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Jefferies Financial Group lowered their price objective 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. Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. UBS Group raised their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, LADENBURG THALM/SH SH raised 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 assigned a buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and an average target price of $95.50.

Pinnacle West Capital Stock Up 0.8 %

Shares of NYSE:PNW opened at $95.36 on Wednesday. Pinnacle West Capital Co. has a 1-year low of $72.78 and a 1-year high of $96.50. The company’s fifty day moving average is $92.81 and its two-hundred day moving average is $89.68. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The stock has a market capitalization of $11.37 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Equities analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The business 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. This represents a $3.58 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Monday, May 5th. 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.