Susquehanna Fundamental Investments LLC Acquires Shares of 168,404 Pinnacle West Capital Co. (NYSE:PNW)

Susquehanna Fundamental Investments LLC acquired a new position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 168,404 shares of the utilities provider's stock, valued at approximately $14,276,000. Susquehanna Fundamental Investments LLC owned 0.15% of Pinnacle West Capital as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $35,000. Brown Lisle Cummings Inc. purchased a new position in shares of Pinnacle West Capital in the fourth quarter worth about $38,000. Roble Belko & Company Inc acquired a new position in Pinnacle West Capital during the fourth quarter worth about $42,000. Finally, Transcendent Capital Group LLC purchased a new stake in Pinnacle West Capital during the 4th quarter valued at about $46,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PNW shares. Wells Fargo & Company upped their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a report on Tuesday, April 22nd. Barclays lifted 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. Morgan Stanley upped their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Finally, Jefferies Financial Group reduced their target price on shares of 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 three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $95.50.

Pinnacle West Capital Stock Down 0.8 %

Pinnacle West Capital stock opened at $93.74 on Friday. The company has a market capitalization of $11.18 billion, a PE ratio of 17.75, a price-to-earnings-growth 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 Co. has a fifty-two week low of $72.78 and a fifty-two week high of $96.50. The firm has a 50 day moving average price of $92.64 and a 200 day moving average price of $89.55.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data 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. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. Research analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

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

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.

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