Aquatic Capital Management LLC Boosts Stake in Pinnacle West Capital Co. (NYSE:PNW)

Aquatic Capital Management LLC lifted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 368.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,193 shares of the utilities provider’s stock after purchasing an additional 86,693 shares during the quarter. Aquatic Capital Management LLC’s holdings in Pinnacle West Capital were worth $9,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. boosted its stake in 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 during the period. 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 worth $373,000 after purchasing an additional 117 shares during the period. Fortem Financial Group LLC increased its holdings in Pinnacle West Capital by 2.2% in the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 124 shares during 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 valued at $1,264,000 after purchasing an additional 127 shares during the period. Finally, Global Retirement Partners LLC raised its position in Pinnacle West Capital by 10.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock valued at $135,000 after purchasing an additional 156 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of research reports. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “hold” rating in a research note on Tuesday, April 22nd. Jefferies Financial Group dropped their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. UBS Group lifted their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, Morgan Stanley increased their target price 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. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Hold” and a consensus target price of $95.50.

Pinnacle West Capital Trading Down 0.8 %

NYSE PNW opened at $93.74 on Friday. Pinnacle West Capital Co. has a 52 week low of $72.78 and a 52 week high of $96.50. The firm has a 50 day moving average of $92.64 and a two-hundred day moving average of $89.55. 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 $11.18 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.25. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. As a group, research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.82%. Pinnacle West Capital’s payout ratio is currently 68.58%.

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.