Oxford Asset Management LLP Acquires Shares of 2,708 Pinnacle West Capital Co. (NYSE:PNW)

Oxford Asset Management LLP bought a new position in Pinnacle West Capital Co. (NYSE:PNW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,708 shares of the utilities provider’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new position in Pinnacle West Capital in the 4th quarter valued at approximately $14,276,000. Integrated Wealth Concepts LLC grew its position in shares of Pinnacle West Capital by 20.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 6,629 shares of the utilities provider’s stock valued at $562,000 after purchasing an additional 1,144 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Pinnacle West Capital by 65.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 471,183 shares of the utilities provider’s stock valued at $39,942,000 after purchasing an additional 186,600 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Pinnacle West Capital by 5.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 34,905 shares of the utilities provider’s stock worth $2,959,000 after purchasing an additional 1,706 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Pinnacle West Capital by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 156,588 shares of the utilities provider’s stock worth $13,274,000 after purchasing an additional 559 shares during the period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $93.74 on Monday. The firm 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. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 12 month low of $72.78 and a 12 month high of $96.50. The business’s 50-day moving average price is $92.64 and its 200-day moving average price is $89.58.

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. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Sell-side analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business 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. This represents a $3.58 annualized dividend and a yield of 3.82%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital’s dividend payout ratio is presently 68.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price target 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. UBS Group raised their price target 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. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “hold” rating in a report on Tuesday, April 22nd. Jefferies Financial Group dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company upped their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Seven investment 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, the company presently has an average rating of “Hold” and an average price target of $95.50.

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.