Proficio Capital Partners LLC Buys Shares of 41,622 Pinnacle West Capital Co. (NYSE:PNW)

Proficio Capital Partners LLC acquired a new position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 41,622 shares of the utilities provider's stock, valued at approximately $3,528,000.

Several other large investors have also recently bought and sold shares of the company. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $29,000. Venturi Wealth Management LLC increased its holdings 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 worth $38,000 after purchasing an additional 238 shares in the last quarter. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital during the 4th quarter worth about $38,000. Prospera Private Wealth LLC bought a new position in Pinnacle West Capital during the 3rd quarter worth about $43,000. Finally, Roble Belko & Company Inc acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

NYSE:PNW traded up $1.15 during mid-day trading on Friday, reaching $91.91. The stock had a trading volume of 1,131,234 shares, compared to its average volume of 991,947. The stock has a 50-day simple moving average of $87.62 and a two-hundred day simple moving average of $88.41. The stock has a market capitalization of $10.95 billion, a PE ratio of 17.41, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a 12 month low of $69.50 and a 12 month high of $95.42.

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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 for the quarter, beating analysts' consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion for 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%. On average, equities analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd were paid a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Monday, February 3rd. Pinnacle West Capital's dividend payout ratio (DPR) is currently 68.58%.

Analysts Set New Price Targets

PNW has been the subject of several recent analyst reports. Guggenheim reiterated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Citigroup increased their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Jefferies Financial Group lowered 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 report on Tuesday, January 28th. KeyCorp raised shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target on the stock in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Pinnacle West Capital has an average rating of "Hold" and an average target price 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.