Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC lowered its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,494 shares of the utilities provider’s stock after selling 335 shares during the period. Baker Ellis Asset Management LLC’s holdings in Pinnacle West Capital were worth $4,619,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $417,000. Yousif Capital Management LLC lifted its position in shares of Pinnacle West Capital by 54.2% during the 4th quarter. Yousif Capital Management LLC now owns 24,212 shares of the utilities provider’s stock worth $2,052,000 after buying an additional 8,507 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Pinnacle West Capital by 47.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider’s stock valued at $995,000 after buying an additional 3,758 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Pinnacle West Capital by 14.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider’s stock valued at $363,000 after buying an additional 545 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Pinnacle West Capital by 2.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,412 shares of the utilities provider’s stock worth $1,391,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $89.60 on Wednesday. The company’s fifty day simple moving average is $91.82 and its 200-day simple moving average is $90.10. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 52 week low of $74.45 and a 52 week high of $96.50. The company has a market cap of $10.70 billion, a PE ratio of 16.97, a P/E/G ratio of 3.59 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last posted 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). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. As a group, equities research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 5th were paid a $0.895 dividend. The ex-dividend date was Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.00%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 71.17%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PNW shares. 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 report on Friday, May 2nd. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “hold” rating in a report on Friday, May 9th. Morgan Stanley lowered their target price on shares of Pinnacle West Capital from $88.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 22nd. Guggenheim reiterated a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, Wall Street Zen cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. One equities 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’s stock. Based on data from MarketBeat, Pinnacle West Capital has a consensus rating of “Hold” and an average target price of $97.00.

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.