Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,121 shares of the utilities provider's stock after purchasing an additional 3,162 shares during the quarter. QRG Capital Management Inc. owned 0.06% of Pinnacle West Capital worth $5,944,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PNW. YANKCOM Partnership purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at $29,000. Venturi Wealth Management LLC increased its stake in shares of Pinnacle West Capital by 124.6% during the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider's stock valued at $38,000 after buying an additional 238 shares during the period. Brown Lisle Cummings Inc. purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at $38,000. Prospera Private Wealth LLC purchased a new position in shares of Pinnacle West Capital during the third quarter valued at $43,000. Finally, Roble Belko & Company Inc purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at $42,000. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Up 1.8 %

NYSE PNW traded up $1.68 during trading on Monday, hitting $94.22. The company's stock had a trading volume of 1,290,818 shares, compared to its average volume of 1,000,222. 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 company has a market cap of $11.22 billion, a PE ratio of 17.84, a P/E/G ratio of 3.59 and a beta of 0.57. The business's 50 day simple moving average is $86.96 and its 200-day simple moving average is $88.24. Pinnacle West Capital Co. has a fifty-two week low of $67.69 and a fifty-two week high of $95.42.

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 for the quarter, topping the consensus estimate of ($0.31) by $0.25. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. On average, equities analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital's dividend payout ratio (DPR) is 68.58%.

Analysts Set New Price Targets

Several brokerages have recently commented on PNW. KeyCorp upgraded Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target on the stock in a research note on Wednesday, December 4th. Morgan Stanley cut their price target on 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. Citigroup lifted their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Barclays lowered Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Finally, Jefferies Financial Group cut their target price on 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. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $87.13.

About Pinnacle West Capital

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.