Teza Capital Management LLC Has $4.75 Million Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Teza Capital Management LLC lifted its stake in Pinnacle West Capital Co. (NYSE:PNW) by 64.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,035 shares of the utilities provider’s stock after acquiring an additional 21,891 shares during the quarter. Pinnacle West Capital makes up 0.7% of Teza Capital Management LLC’s portfolio, making the stock its 19th biggest holding. Teza Capital Management LLC’s holdings in Pinnacle West Capital were worth $4,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its position in 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 worth $12,336,000 after buying an additional 9,993 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in 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 worth $995,000 after buying an additional 3,758 shares during the last quarter. Blue Trust Inc. increased its position in Pinnacle West Capital by 33.3% during the fourth quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider’s stock worth $128,000 after buying an additional 360 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Pinnacle West Capital by 14.6% during the fourth 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 during the last quarter. Finally, MCF Advisors LLC increased its position in Pinnacle West Capital by 200.6% during the fourth quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider’s stock worth $522,000 after buying an additional 4,107 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNW has been the topic of several analyst reports. StockNews.com downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. 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. Morgan Stanley raised their price target on Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Barclays raised their price target on 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, Guggenheim reaffirmed a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.75.

Pinnacle West Capital Trading Up 1.3%

Shares of NYSE PNW opened at $91.74 on Friday. The company’s fifty day moving average is $92.87 and its 200-day moving average is $90.07. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 3.59 and a beta of 0.45. Pinnacle West Capital Co. has a twelve month low of $74.45 and a twelve month high of $96.50. 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 announced its 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). The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Pinnacle West Capital’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Equities research analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

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

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.