Price T Rowe Associates Inc. MD Buys 559 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Price T Rowe Associates Inc. MD increased its position in Pinnacle West Capital Co. (NYSE:PNW) by 0.4% in the 4th quarter, HoldingsChannel reports. The fund owned 156,588 shares of the utilities provider’s stock after buying an additional 559 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Pinnacle West Capital were worth $13,274,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an “equal weight” rating in a report on Friday. Morgan Stanley upped their price objective 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. Barclays increased their price objective on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 1st. Finally, LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “hold” rating in a report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.83.

Pinnacle West Capital Trading Up 0.9 %

Shares of NYSE PNW opened at $94.26 on Friday. The business’s 50 day moving average price is $92.93 and its 200-day moving average price is $89.82. Pinnacle West Capital Co. has a fifty-two week low of $74.45 and a fifty-two week high of $96.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. On average, sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be paid a $0.895 dividend. The ex-dividend date is Monday, May 5th. 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%.

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.