Squarepoint Ops LLC Grows Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Squarepoint Ops LLC increased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 416,712 shares of the utilities provider’s stock after buying an additional 3,289 shares during the period. Squarepoint Ops LLC’s holdings in Pinnacle West Capital were worth $35,325,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Pinnacle West Capital by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider’s stock worth $1,202,116,000 after buying an additional 143,716 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Pinnacle West Capital by 0.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider’s stock worth $581,945,000 after acquiring an additional 37,768 shares in the last quarter. Invesco Ltd. grew its holdings in Pinnacle West Capital by 32.2% during the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider’s stock worth $364,342,000 after acquiring an additional 1,045,788 shares in the last quarter. Geode Capital Management LLC grew its holdings in Pinnacle West Capital by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider’s stock worth $243,897,000 after acquiring an additional 204,805 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Pinnacle West Capital by 33.4% during the 4th quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider’s stock worth $206,420,000 after acquiring an additional 610,042 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Trading Up 0.0%

Shares of Pinnacle West Capital stock opened at $92.49 on Wednesday. The company has a fifty day simple moving average of $92.91 and a 200-day simple moving average of $90.15. Pinnacle West Capital Co. has a 12-month low of $74.45 and a 12-month high of $96.50. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 12.26% and a return on equity of 9.60%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. On average, equities analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be issued a $0.895 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.87%. Pinnacle West Capital’s payout ratio is 71.17%.

Analyst Upgrades and Downgrades

PNW has been the subject of several analyst reports. Morgan Stanley boosted their price target on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Guggenheim reiterated a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Jefferies Financial Group lowered their price target 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. BMO Capital Markets initiated coverage on shares of Pinnacle West Capital in a report on Tuesday, May 13th. They set a “market perform” rating and a $95.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. One 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $95.75.

About Pinnacle West Capital

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.