Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC raised its position in Pinnacle West Capital Co. (NYSE:PNW) by 21.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,474 shares of the utilities provider’s stock after acquiring an additional 972 shares during the quarter. Larson Financial Group LLC’s holdings in Pinnacle West Capital were worth $464,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in shares of Pinnacle West Capital by 221.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock valued at $57,413,000 after buying an additional 466,736 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Pinnacle West Capital during the 4th quarter valued at approximately $32,078,000. Reaves W H & Co. Inc. boosted its stake in shares of Pinnacle West Capital by 35.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider’s stock valued at $117,891,000 after buying an additional 362,083 shares during the last quarter. Yaupon Capital Management LP purchased a new position in shares of Pinnacle West Capital during the 3rd quarter valued at approximately $22,173,000. Finally, Zimmer Partners LP boosted its stake in shares of Pinnacle West Capital by 5.7% during the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after buying an additional 155,466 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PNW. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Jefferies Financial Group reduced their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley reduced their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Guggenheim restated a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, Citigroup raised their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $90.15.

Pinnacle West Capital Price Performance

Shares of PNW opened at $91.97 on Tuesday. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. 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 one year low of $69.50 and a one year high of $95.42. The stock’s fifty day moving average is $87.76 and its 200-day moving average is $88.46.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Equities analysts anticipate 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 was paid on Monday, March 3rd. Investors of record on Monday, February 3rd were paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 3.89%. The ex-dividend date was Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is presently 68.58%.

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.