Bfsg LLC Sells 241 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Bfsg LLC reduced its stake in Pinnacle West Capital Co. (NYSE:PNW) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,957 shares of the utilities provider’s stock after selling 241 shares during the period. Bfsg LLC’s holdings in Pinnacle West Capital were worth $3,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PNW. Vanguard Group Inc. lifted its holdings in Pinnacle West Capital by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider’s stock worth $1,202,116,000 after acquiring an additional 143,716 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Pinnacle West Capital by 0.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider’s stock worth $581,945,000 after acquiring an additional 37,768 shares in the last quarter. Invesco Ltd. lifted its holdings in Pinnacle West Capital by 32.2% during the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider’s stock worth $364,342,000 after acquiring an additional 1,045,788 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Pinnacle West Capital by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider’s stock worth $243,897,000 after acquiring an additional 204,805 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Pinnacle West Capital by 33.4% during the fourth quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider’s stock worth $206,420,000 after acquiring an additional 610,042 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Price Performance

PNW stock opened at $88.87 on Tuesday. The stock has a market capitalization of $10.61 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 3.59 and a beta of 0.43. The company’s 50-day moving average is $91.81 and its 200-day moving average is $89.96. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a 1 year low of $74.45 and a 1 year high of $96.50.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $988.95 million. During the same period in the previous year, the business posted $0.15 EPS. Pinnacle West Capital’s revenue was up 8.5% compared to the same quarter last year. Equities 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 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 yield of 4.03%. Pinnacle West Capital’s dividend payout ratio is presently 71.17%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PNW shares. Barclays lifted their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 1st. Wall Street Zen downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Wells Fargo & Company lifted their price target on Pinnacle West Capital from $95.00 to $98.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. UBS Group lifted their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Morgan Stanley dropped their price target on Pinnacle West Capital from $88.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.