Pinnacle West Capital Co. (NYSE:PNW) Position Boosted by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,738 shares of the utilities provider’s stock after purchasing an additional 780 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Pinnacle West Capital were worth $1,249,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Fortem Financial Group LLC lifted its position in shares of Pinnacle West Capital by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after purchasing an additional 124 shares during the last quarter. Global Retirement Partners LLC raised its stake in Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock worth $135,000 after acquiring an additional 156 shares during the period. Glenmede Trust Co. NA raised its stake in Pinnacle West Capital by 2.5% during the third quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock worth $593,000 after acquiring an additional 163 shares during the period. LRI Investments LLC raised its stake in Pinnacle West Capital by 7.0% during the third quarter. LRI Investments LLC now owns 2,498 shares of the utilities provider’s stock worth $227,000 after acquiring an additional 163 shares during the period. Finally, Caprock Group LLC raised its stake in Pinnacle West Capital by 3.1% during the fourth quarter. Caprock Group LLC now owns 5,511 shares of the utilities provider’s stock worth $467,000 after acquiring an additional 164 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Morgan Stanley dropped their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Guggenheim reiterated a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday. Citigroup increased their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group dropped their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and an average target price of $86.58.

Pinnacle West Capital Price Performance

NYSE PNW opened at $91.67 on Thursday. Pinnacle West Capital Co. has a 12 month low of $66.77 and a 12 month high of $95.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The firm has a market capitalization of $10.42 billion, a PE ratio of 17.36, a P/E/G ratio of 3.59 and a beta of 0.57. The company’s 50 day simple moving average is $86.53 and its 200 day simple moving average is $88.12.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, equities research analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.91%. Pinnacle West Capital’s dividend payout ratio is presently 67.80%.

Pinnacle West Capital Company 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.