NBC Securities Inc. Buys 38,790 Shares of Pinnacle West Capital Co. (NYSE:PNW)

NBC Securities Inc. increased its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 102,078.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,828 shares of the utilities provider’s stock after purchasing an additional 38,790 shares during the period. NBC Securities Inc.’s holdings in Pinnacle West Capital were worth $3,698,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. grew its holdings in shares of Pinnacle West Capital by 0.9% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock worth $1,163,000 after buying an additional 116 shares in the last quarter. Norinchukin Bank The boosted its position in Pinnacle West Capital by 2.7% during the 4th quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider’s stock worth $373,000 after acquiring an additional 117 shares during the last quarter. New York Life Investment Management LLC grew its stake in shares of Pinnacle West Capital by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after acquiring an additional 127 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Pinnacle West Capital by 10.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock worth $135,000 after acquiring an additional 156 shares in the last quarter. Finally, Probity Advisors Inc. raised its holdings in shares of Pinnacle West Capital by 2.7% in the fourth quarter. Probity Advisors Inc. now owns 6,056 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

PNW has been the subject of several recent research reports. Barclays increased their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 1st. BMO Capital Markets started coverage on shares of Pinnacle West Capital in a research note on Tuesday, May 13th. They set a “market perform” rating and a $95.00 price objective for the company. Morgan Stanley decreased their price objective on Pinnacle West Capital from $88.00 to $87.00 and set an “equal weight” rating for the company in a report on Thursday, May 22nd. UBS Group upped their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Wells Fargo & Company increased their price target on Pinnacle West Capital from $95.00 to $98.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $95.65.

Pinnacle West Capital Trading Up 0.4%

Pinnacle West Capital stock opened at $91.21 on Monday. The stock has a 50-day simple moving average of $92.48 and a 200 day simple moving average of $90.20. The stock has a market capitalization of $10.89 billion, a P/E ratio of 17.27, a PEG ratio of 3.59 and a beta of 0.45. 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 Co. has a 52 week low of $74.45 and a 52 week high of $96.50.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). The business 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 business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. Analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be paid a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital’s dividend payout ratio is presently 71.17%.

Pinnacle West Capital 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.