Stifel Financial Corp Grows Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Stifel Financial Corp increased its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 15.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 163,084 shares of the utilities provider's stock after buying an additional 22,319 shares during the period. Stifel Financial Corp owned 0.14% of Pinnacle West Capital worth $13,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $29,000. Canada Post Corp Registered Pension Plan bought a new position in Pinnacle West Capital in the 4th quarter worth about $35,000. Brown Lisle Cummings Inc. purchased a new stake in Pinnacle West Capital during the 4th quarter valued at about $38,000. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital during the 4th quarter valued at about $42,000. Finally, Transcendent Capital Group LLC purchased a new position in Pinnacle West Capital in the fourth quarter worth about $46,000. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

PNW opened at $93.74 on Friday. The company's 50 day moving average is $92.64 and its 200 day moving average is $89.55. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 12-month low of $72.78 and a 12-month high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released 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. 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 the consensus estimate of $1.06 billion. On average, equities research analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be given a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's payout ratio is 68.58%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. 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. Morgan Stanley lifted their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Jefferies Financial Group decreased their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Barclays boosted their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $95.50.

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.

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