Pinnacle West Capital Co. (NYSE:PNW) Position Increased by Baird Financial Group Inc.

Baird Financial Group Inc. raised its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 25,111 shares of the utilities provider’s stock after purchasing an additional 550 shares during the quarter. Baird Financial Group Inc.’s holdings in Pinnacle West Capital were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital during the fourth quarter valued at $29,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Pinnacle West Capital during the fourth quarter valued at $35,000. Brown Lisle Cummings Inc. acquired a new position in shares of Pinnacle West Capital during the fourth quarter valued at $38,000. Roble Belko & Company Inc acquired a new position in shares of Pinnacle West Capital during the fourth quarter valued at $42,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Pinnacle West Capital during the fourth quarter valued at $46,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

PNW stock opened at $91.71 on Monday. The company has a market capitalization of $10.95 billion, a P/E ratio of 17.37, a PEG ratio of 3.59 and a beta of 0.45. The company has a 50-day simple moving average of $93.01 and a 200 day simple moving average of $90.01. Pinnacle West Capital Co. has a fifty-two week low of $74.45 and a fifty-two week high of $99.60. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $988.95 million. During the same period in the previous year, the company posted $0.15 earnings per share. Pinnacle West Capital’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Monday, May 5th. Pinnacle West Capital’s payout ratio is 71.17%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Morgan Stanley boosted their price target on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. UBS Group upped their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Jefferies Financial Group reduced their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.83.

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.