Two Sigma Advisers LP Boosts Stake in Pinnacle West Capital Co. (NYSE:PNW)

Two Sigma Advisers LP lifted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 462.8% during the 4th quarter, Holdings Channel reports. The firm owned 912,900 shares of the utilities provider’s stock after buying an additional 750,700 shares during the period. Two Sigma Advisers LP’s holdings in Pinnacle West Capital were worth $77,387,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. YANKCOM Partnership purchased a new position in Pinnacle West Capital in the fourth quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at $35,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $38,000. Transcendent Capital Group LLC acquired a new stake in Pinnacle West Capital during the 4th quarter worth approximately $46,000. Finally, Allworth Financial LP increased its stake in Pinnacle West Capital by 125.9% in the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock valued at $56,000 after buying an additional 365 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $92.44 on Tuesday. Pinnacle West Capital Co. has a 12-month low of $74.45 and a 12-month high of $96.50. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The firm’s fifty day moving average price is $92.90 and its 200 day moving average price is $90.13.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly 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). The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. On average, research analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 5th will be paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 3.87%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 71.17%.

Wall Street Analyst Weigh In

PNW has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “hold” rating in a report on Friday, May 9th. Jefferies Financial Group reduced their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Guggenheim reissued a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. BMO Capital Markets began coverage on shares of Pinnacle West Capital in a report on Tuesday, May 13th. They issued a “market perform” rating and a $95.00 price target on the stock. Finally, StockNews.com cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Monday, May 5th. One investment 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’s stock. According to data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus 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.