Quantinno Capital Management LP Increases Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Quantinno Capital Management LP grew its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 62.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 32,401 shares of the utilities provider’s stock after acquiring an additional 12,422 shares during the period. Quantinno Capital Management LP’s holdings in Pinnacle West Capital were worth $2,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital in the 4th quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of Pinnacle West Capital in the fourth quarter worth approximately $35,000. Brown Lisle Cummings Inc. purchased a new position in shares of Pinnacle West Capital in the fourth quarter worth approximately $38,000. Transcendent Capital Group LLC bought a new stake in Pinnacle West Capital during the 4th quarter worth approximately $46,000. Finally, Allworth Financial LP raised its stake in Pinnacle West Capital by 125.9% during the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 365 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PNW shares. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “hold” rating in a research report on Friday, May 9th. 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. Guggenheim reaffirmed a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. BMO Capital Markets started coverage on shares of Pinnacle West Capital in a research note on Tuesday, May 13th. They set a “market perform” rating and a $95.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.75.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $92.49 on Wednesday. The company has a market capitalization of $11.04 billion, a PE ratio of 17.52, a P/E/G ratio of 3.59 and a beta of 0.45. 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 50-day simple moving average of $92.91 and a two-hundred day simple moving average of $90.15. Pinnacle West Capital Co. has a one year low of $74.45 and a one year high of $96.50.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $988.95 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 5th will be given 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 3.87%. Pinnacle West Capital’s dividend payout ratio is currently 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.