Whalerock Point Partners LLC Has $848,000 Position in Pinnacle West Capital Co. (NYSE:PNW)

Whalerock Point Partners LLC cut its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,008 shares of the utilities provider’s stock after selling 1,318 shares during the quarter. Whalerock Point Partners LLC’s holdings in Pinnacle West Capital were worth $848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. raised its stake in shares of Pinnacle West Capital by 0.9% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock valued at $1,163,000 after purchasing an additional 116 shares in the last quarter. Norinchukin Bank The boosted its position in shares of Pinnacle West Capital by 2.7% during the 4th quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 117 shares in the last quarter. Fortem Financial Group LLC raised its position in Pinnacle West Capital by 2.2% in the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after purchasing an additional 124 shares in the last quarter. New York Life Investment Management LLC raised its position in Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after purchasing an additional 127 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 156 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Trading Down 0.8 %

NYSE PNW opened at $93.74 on Friday. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 3.59 and a beta of 0.42. Pinnacle West Capital Co. has a 52 week low of $72.78 and a 52 week high of $96.50. The stock’s 50 day moving average price is $92.64 and its two-hundred day moving average price is $89.55. 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 (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 5th will be issued a dividend of $0.895 per share. The ex-dividend date is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a yield of 3.82%. Pinnacle West Capital’s payout ratio is 68.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PNW shares. Wells Fargo & Company increased their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. UBS Group boosted their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “hold” rating in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group reduced their price target on shares of 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. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $95.50.

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.