Systematic Financial Management LP Has $3.80 Million Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Systematic Financial Management LP lessened its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 44,875 shares of the utilities provider’s stock after selling 340 shares during the quarter. Systematic Financial Management LP’s holdings in Pinnacle West Capital were worth $3,804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. increased its position in Pinnacle West Capital by 0.9% during the 4th 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 during the period. Norinchukin Bank The increased its position in 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 purchasing an additional 117 shares during the period. New York Life Investment Management LLC increased its position in Pinnacle West Capital by 0.9% during the 4th 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. Global Retirement Partners LLC increased its position in Pinnacle West Capital by 10.8% during the 4th 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. Finally, 1620 Investment Advisors Inc. increased its position in Pinnacle West Capital by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock valued at $397,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of PNW opened at $91.74 on Friday. Pinnacle West Capital Co. has a 12-month low of $74.45 and a 12-month high of $96.50. The business’s fifty day moving average is $92.87 and its 200 day moving average is $90.07. 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 cap of $10.95 billion, a P/E ratio of 17.38, a P/E/G ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $988.95 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. Pinnacle West Capital’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

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 $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital’s dividend payout ratio is currently 71.17%.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 1st. BMO Capital Markets initiated coverage on Pinnacle West Capital in a report on Tuesday, May 13th. They set a “market perform” rating and a $95.00 price target on the stock. Guggenheim restated a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. UBS Group increased their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Jefferies Financial Group cut their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Pinnacle West Capital has an average rating of “Hold” and an average price target of $95.75.

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.