Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by Aquatic Capital Management LLC

Aquatic Capital Management LLC grew its position in Pinnacle West Capital Co. (NYSE:PNW) by 368.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,193 shares of the utilities provider’s stock after purchasing an additional 86,693 shares during the period. Aquatic Capital Management LLC owned approximately 0.10% of Pinnacle West Capital worth $9,341,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PNW. Mesirow Financial Investment Management Inc. grew its position in Pinnacle West Capital by 0.9% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock worth $1,163,000 after purchasing an additional 116 shares during the period. Norinchukin Bank The raised its position in Pinnacle West Capital by 2.7% during the fourth quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 117 shares in the last quarter. Fortem Financial Group LLC raised its position in Pinnacle West Capital by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after acquiring an additional 124 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock valued at $1,264,000 after acquiring an additional 127 shares during the period. Finally, Global Retirement Partners LLC boosted its position in Pinnacle West Capital by 10.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 156 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PNW has been the subject of several analyst reports. UBS Group boosted their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Wells Fargo & Company lifted their price objective on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Morgan Stanley increased their target price on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. 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. Finally, Jefferies Financial Group lowered their price target on 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. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $95.50.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $93.74 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’s 50 day simple moving average is $92.64 and its 200-day simple moving average is $89.55. The company has a market cap of $11.18 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 1-year low of $72.78 and a 1-year high of $96.50.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. As a group, equities research analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.58 annualized dividend and a dividend yield of 3.82%. 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.