Hsbc Holdings PLC Purchases 133,852 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Hsbc Holdings PLC raised its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 556,894 shares of the utilities provider's stock after acquiring an additional 133,852 shares during the period. Hsbc Holdings PLC owned approximately 0.49% of Pinnacle West Capital worth $47,160,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Pinnacle West Capital by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock worth $1,202,116,000 after buying an additional 143,716 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Pinnacle West Capital by 0.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock valued at $581,945,000 after purchasing an additional 37,768 shares during the period. Invesco Ltd. boosted its stake in shares of Pinnacle West Capital by 32.2% in the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock valued at $364,342,000 after buying an additional 1,045,788 shares during the period. Geode Capital Management LLC grew its position in Pinnacle West Capital by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider's stock worth $243,897,000 after buying an additional 204,805 shares in the last quarter. Finally, Norges Bank bought a new position in Pinnacle West Capital during the 4th quarter worth $194,655,000. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Trading Up 0.7 %

Shares of PNW stock traded up $0.62 during mid-day trading on Tuesday, hitting $95.21. The company's stock had a trading volume of 454,598 shares, compared to its average volume of 1,096,319. The company's fifty day simple moving average is $92.72 and its 200-day simple moving average is $89.64. Pinnacle West Capital Co. has a 52 week low of $72.78 and a 52 week high of $96.50. The company has a market cap of $11.35 billion, a PE ratio of 18.03, a P/E/G ratio of 3.59 and a beta of 0.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, equities research analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be paid a dividend of $0.895 per share. The ex-dividend date is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a yield of 3.76%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 68.58%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. UBS Group boosted their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Barclays boosted their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 1st. Guggenheim reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, Morgan Stanley raised their price target on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $95.50.

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.