Ieq Capital LLC Purchases Shares of 4,102 Pinnacle West Capital Co. (NYSE:PNW)

Ieq Capital LLC bought a new position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,102 shares of the utilities provider's stock, valued at approximately $348,000.

Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC lifted its holdings in shares of Pinnacle West Capital by 10.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock worth $135,000 after purchasing an additional 156 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Pinnacle West Capital by 15.9% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,897 shares of the utilities provider's stock worth $330,000 after buying an additional 535 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Pinnacle West Capital by 2.5% during the 4th quarter. CIBC Asset Management Inc now owns 16,125 shares of the utilities provider's stock valued at $1,367,000 after purchasing an additional 388 shares in the last quarter. Allworth Financial LP boosted its stake in Pinnacle West Capital by 125.9% during the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider's stock valued at $56,000 after purchasing an additional 365 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV bought a new stake in Pinnacle West Capital in the fourth quarter worth about $2,300,000. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Up 1.8 %

PNW traded up $1.68 during midday trading on Monday, reaching $94.22. 1,017,681 shares of the company were exchanged, compared to its average volume of 1,000,222. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. 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 Co. has a one year low of $67.69 and a one year high of $95.42. The company's fifty day moving average price is $86.96 and its 200 day moving average price is $88.24.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly 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. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. As a group, analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital's payout ratio is 68.58%.

Analysts Set New Price Targets

PNW has been the subject of several recent analyst reports. Barclays cut shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Citigroup boosted their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. KeyCorp upgraded shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price objective on the stock in a research note on Wednesday, December 4th. Jefferies Financial Group reduced their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their price objective 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. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $87.13.

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.