Aigen Investment Management LP Invests $648,000 in Pinnacle West Capital Co. (NYSE:PNW)

Aigen Investment Management LP purchased a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,650 shares of the utilities provider's stock, valued at approximately $648,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $29,000. Venturi Wealth Management LLC lifted its position in Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 238 shares during the period. Brown Lisle Cummings Inc. bought a new stake in Pinnacle West Capital during the fourth quarter worth about $38,000. Roble Belko & Company Inc purchased a new stake in Pinnacle West Capital in the fourth quarter worth about $42,000. Finally, Prospera Private Wealth LLC purchased a new stake in Pinnacle West Capital in the third quarter worth about $43,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock traded down $0.02 during trading hours on Monday, reaching $91.97. 1,321,437 shares of the stock traded hands, compared to its average volume of 1,045,205. The company has a 50 day moving average price of $87.62 and a 200 day moving average price of $88.43. Pinnacle West Capital Co. has a one year low of $69.50 and a one year high of $95.42. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 3.59 and a beta of 0.53.

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Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd were given a dividend of $0.895 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.89%. Pinnacle West Capital's payout ratio is currently 68.58%.

Analysts Set New Price Targets

A number of analysts have recently commented on PNW shares. Citigroup boosted their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Morgan Stanley dropped their price target 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. KeyCorp upgraded shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Finally, Barclays downgraded shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $90.15.

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.