SG Americas Securities LLC Has $4.35 Million Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

SG Americas Securities LLC decreased its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 28.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,669 shares of the utilities provider’s stock after selling 18,039 shares during the period. SG Americas Securities LLC’s holdings in Pinnacle West Capital were worth $4,350,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Pinnacle West Capital by 26.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,775 shares of the utilities provider’s stock worth $2,524,000 after buying an additional 6,183 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Pinnacle West Capital by 14.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider’s stock worth $363,000 after buying an additional 545 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Pinnacle West Capital during the 4th quarter worth about $3,528,000. Commonwealth Equity Services LLC lifted its position in Pinnacle West Capital by 3.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 43,323 shares of the utilities provider’s stock worth $3,672,000 after buying an additional 1,425 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in Pinnacle West Capital during the 4th quarter worth about $346,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $90.67 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The stock has a market cap of $10.83 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 3.59 and a beta of 0.43. The stock has a 50-day moving average of $91.80 and a 200-day moving average of $90.08. 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 quarterly 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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate 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 was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. As a group, sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 3.95%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 71.17%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PNW. UBS Group upped their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Wells Fargo & Company upped their target price on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Barclays upped their target price 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, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “hold” rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.00.

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.