Teza Capital Management LLC Purchases 21,891 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Teza Capital Management LLC boosted its position in Pinnacle West Capital Co. (NYSE:PNW) by 64.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 56,035 shares of the utilities provider’s stock after buying an additional 21,891 shares during the quarter. Pinnacle West Capital makes up 0.7% of Teza Capital Management LLC’s portfolio, making the stock its 19th biggest position. Teza Capital Management LLC’s holdings in Pinnacle West Capital were worth $4,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in PNW. Mesirow Financial Investment Management Inc. boosted its position in 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 buying an additional 116 shares in the last quarter. Norinchukin Bank The boosted its position in Pinnacle West Capital by 2.7% in the fourth quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider’s stock valued at $373,000 after buying an additional 117 shares in the last quarter. New York Life Investment Management LLC boosted 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 buying an additional 127 shares in the last quarter. Global Retirement Partners LLC boosted 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 buying an additional 156 shares in the last quarter. Finally, 1620 Investment Advisors Inc. boosted its position in Pinnacle West Capital by 3.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock valued at $397,000 after buying an additional 162 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “hold” rating in a research report on Friday, May 9th. Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. BMO Capital Markets initiated coverage on shares of Pinnacle West Capital in a research report on Tuesday, May 13th. They issued a “market perform” rating and a $95.00 target price on the stock. UBS Group lifted their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Morgan Stanley lifted 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Pinnacle West Capital currently has an average rating of “Hold” and a consensus target price of $95.75.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $91.74 on Friday. The firm has a market cap of $10.95 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45. The firm’s fifty day moving average is $92.87 and its 200-day moving average is $90.07. 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 52 week low of $74.45 and a 52 week high of $96.50.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $988.95 million. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Pinnacle West Capital’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. Sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 earnings per share for the current 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 $0.895 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.58 annualized dividend and a yield of 3.90%. Pinnacle West Capital’s payout ratio is 71.17%.

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.