Twinbeech Capital LP Buys 72,896 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Twinbeech Capital LP increased its stake in Pinnacle West Capital Co. (NYSE:PNW) by 214.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,826 shares of the utilities provider’s stock after purchasing an additional 72,896 shares during the period. Twinbeech Capital LP owned approximately 0.09% of Pinnacle West Capital worth $9,056,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Two Sigma Advisers LP increased its position in shares of Pinnacle West Capital by 462.8% in the fourth quarter. Two Sigma Advisers LP now owns 912,900 shares of the utilities provider’s stock worth $77,387,000 after purchasing an additional 750,700 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Pinnacle West Capital by 133.4% in the fourth quarter. Two Sigma Investments LP now owns 961,616 shares of the utilities provider’s stock worth $81,516,000 after purchasing an additional 549,637 shares during the last quarter. Teza Capital Management LLC increased its position in shares of Pinnacle West Capital by 64.1% in the fourth quarter. Teza Capital Management LLC now owns 56,035 shares of the utilities provider’s stock worth $4,750,000 after purchasing an additional 21,891 shares during the last quarter. Tema Etfs LLC bought a new position in shares of Pinnacle West Capital in the fourth quarter worth approximately $323,000. Finally, Sherbrooke Park Advisers LLC increased its position in shares of Pinnacle West Capital by 37.1% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 14,447 shares of the utilities provider’s stock worth $1,225,000 after purchasing an additional 3,906 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Jefferies Financial Group reduced their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “hold” rating in a research report on Friday, May 9th. UBS Group increased their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Barclays increased their price target 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, BMO Capital Markets assumed coverage on shares of Pinnacle West Capital in a research report on Tuesday, May 13th. They set a “market perform” rating and a $95.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.75.

Pinnacle West Capital Stock Performance

NYSE:PNW opened at $92.44 on Tuesday. The firm has a market cap of $11.04 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45. 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 business has a 50 day moving average price of $92.90 and a 200-day moving average price of $90.13.

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

Pinnacle West Capital Announces Dividend

The business 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 dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 71.17%.

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.