Tema Etfs LLC Takes $323,000 Position in Pinnacle West Capital Co. (NYSE:PNW)

Tema Etfs LLC acquired a new stake in Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,808 shares of the utilities provider’s stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. YANKCOM Partnership acquired a new position in Pinnacle West Capital in the fourth quarter valued at $29,000. Canada Post Corp Registered Pension Plan acquired a new position in Pinnacle West Capital in the fourth quarter valued at $35,000. Brown Lisle Cummings Inc. acquired a new position in Pinnacle West Capital in the fourth quarter valued at $38,000. Transcendent Capital Group LLC acquired a new position in Pinnacle West Capital in the fourth quarter valued at $46,000. Finally, Allworth Financial LP boosted its holdings in Pinnacle West Capital by 125.9% in the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 1.3%

NYSE:PNW opened at $91.74 on Monday. 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 one year low of $74.45 and a one year high of $96.50. The business’s 50-day simple moving average is $92.87 and its 200 day simple moving average is $90.08. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW) last released 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 business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $988.95 million. During the same quarter last year, the firm posted $0.15 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors 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 3.90%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital’s dividend payout ratio (DPR) is 71.17%.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “hold” rating in a report on Friday, May 9th. StockNews.com cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. UBS Group boosted their price objective 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. Morgan Stanley boosted their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Finally, Wells Fargo & Company boosted their price objective on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.75.

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.