Rhumbline Advisers Has $19.25 Million Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Rhumbline Advisers boosted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 14.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,106 shares of the utilities provider’s stock after acquiring an additional 24,800 shares during the quarter. Rhumbline Advisers owned 0.17% of Pinnacle West Capital worth $19,251,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in Pinnacle West Capital by 26.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,775 shares of the utilities provider’s stock valued at $2,524,000 after purchasing an additional 6,183 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Pinnacle West Capital by 47.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider’s stock valued at $995,000 after purchasing an additional 3,758 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Pinnacle West Capital by 14.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider’s stock valued at $363,000 after acquiring an additional 545 shares during the last quarter. Yousif Capital Management LLC increased its stake in Pinnacle West Capital by 54.2% in the fourth quarter. Yousif Capital Management LLC now owns 24,212 shares of the utilities provider’s stock valued at $2,052,000 after purchasing an additional 8,507 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $3,528,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Trading Down 0.4%

PNW opened at $89.05 on Friday. Pinnacle West Capital Co. has a twelve month low of $74.45 and a twelve month high of $96.50. The company has a 50-day simple moving average of $92.05 and a 200 day simple moving average of $90.16. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 3.59 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. During the same period in the prior year, the company earned $0.15 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts predict 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 was paid on Monday, June 2nd. Shareholders of record on Monday, May 5th were paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Monday, May 5th. Pinnacle West Capital’s payout ratio is presently 71.17%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Guggenheim reissued a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Barclays lifted their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 1st. Morgan Stanley reduced their price objective on shares of Pinnacle West Capital from $88.00 to $87.00 and set an “equal weight” rating for the company in a research report on Thursday, May 22nd. Finally, UBS Group boosted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. 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 MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus target price of $97.00.

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.