Ground Swell Capital LLC Reduces Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Ground Swell Capital LLC cut its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 12.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,637 shares of the utilities provider’s stock after selling 376 shares during the period. Ground Swell Capital LLC’s holdings in Pinnacle West Capital were worth $224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PNW. Focus Partners Wealth acquired a new position in Pinnacle West Capital in the fourth quarter valued at approximately $614,000. Ensign Peak Advisors Inc lifted its stake in shares of Pinnacle West Capital by 0.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 31,951 shares of the utilities provider’s stock valued at $2,708,000 after purchasing an additional 250 shares during the last quarter. Ethic Inc. purchased a new position in shares of Pinnacle West Capital during the 4th quarter worth $251,000. Deutsche Bank AG increased its position in shares of Pinnacle West Capital by 33.4% during the 4th quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider’s stock worth $206,420,000 after purchasing an additional 610,042 shares during the last quarter. Finally, Corton Capital Inc. purchased a new stake in Pinnacle West Capital in the 4th quarter valued at about $284,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. 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. Wells Fargo & Company boosted their target price on Pinnacle West Capital from $95.00 to $98.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Guggenheim restated a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. StockNews.com cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Finally, UBS Group increased their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.83.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $91.71 on Friday. The stock has a 50-day simple moving average of $93.01 and a 200-day simple moving average of $90.00. 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 1 year low of $74.45 and a 1 year high of $96.50. The stock has a market capitalization of $10.93 billion, a PE ratio of 17.37, a PEG ratio of 3.59 and a beta of 0.45.

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

Pinnacle West Capital Announces Dividend

The firm also recently declared 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. This represents a $3.58 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital’s dividend payout ratio is presently 71.17%.

Pinnacle West Capital Company 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.