Pinnacle West Capital Co. (NYSE:PNW) Stock Holdings Raised by Versor Investments LP

Versor Investments LP raised its position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 41.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,023 shares of the utilities provider's stock after purchasing an additional 5,023 shares during the period. Versor Investments LP's holdings in Pinnacle West Capital were worth $1,443,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. YANKCOM Partnership purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at approximately $29,000. Venturi Wealth Management LLC lifted its stake in shares of 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 during the period. Brown Lisle Cummings Inc. purchased a new position in shares of Pinnacle West Capital during the 4th quarter worth $38,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital during the fourth quarter worth $42,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital in the third quarter valued at $43,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Up 1.8 %

NYSE:PNW traded up $1.68 during mid-day trading on Monday, hitting $94.22. The company had a trading volume of 1,290,818 shares, compared to its average volume of 1,000,222. The business has a fifty day simple moving average of $86.96 and a 200-day simple moving average of $88.24. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 3.59 and a beta of 0.57. Pinnacle West Capital Co. has a 1 year low of $67.69 and a 1 year high of $95.42. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.25. The business had revenue of $1.10 billion for 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%. Equities analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on PNW shares. KeyCorp raised 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 decreased their target price on shares of Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group dropped their price target on shares of 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. Barclays lowered shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Guggenheim reissued a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.