Ranch Capital Advisors Inc. Acquires Shares of 5,203 Pinnacle West Capital Co. (NYSE:PNW)

Ranch Capital Advisors Inc. acquired a new stake in Pinnacle West Capital Co. (NYSE:PNW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,203 shares of the utilities provider’s stock, valued at approximately $441,000.

Other hedge funds have also recently modified their holdings of the company. HITE Hedge Asset Management LLC increased its position in shares of Pinnacle West Capital by 261.2% in the third quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock valued at $8,178,000 after acquiring an additional 66,755 shares during the period. XTX Topco Ltd purchased a new position in shares of Pinnacle West Capital during the third quarter valued at about $2,235,000. Principal Financial Group Inc. increased its position in shares of Pinnacle West Capital by 7.7% during the third quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock valued at $12,336,000 after buying an additional 9,993 shares during the period. Entropy Technologies LP increased its position in shares of Pinnacle West Capital by 170.1% during the third quarter. Entropy Technologies LP now owns 30,314 shares of the utilities provider’s stock valued at $2,686,000 after buying an additional 19,089 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Pinnacle West Capital by 47.2% during the fourth 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 during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup boosted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. 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. Morgan Stanley reduced their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital has an average rating of “Hold” and an average target price of $90.15.

Pinnacle West Capital Trading Up 1.3 %

Shares of NYSE PNW opened at $91.91 on Monday. The firm’s 50 day moving average price is $87.62 and its 200-day moving average price is $88.43. The company has a market cap of $10.95 billion, a PE ratio of 17.41, a P/E/G ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a 52-week low of $69.50 and a 52-week high of $95.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. On average, equities research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd were paid a $0.895 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 3.90%. Pinnacle West Capital’s dividend payout ratio is presently 68.58%.

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.