Pinnacle West Capital Co. (NYSE:PNW) is Reaves W H & Co. Inc.’s 9th Largest Position

Reaves W H & Co. Inc. boosted its stake in Pinnacle West Capital Co. (NYSE:PNW) by 35.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,390,715 shares of the utilities provider’s stock after buying an additional 362,083 shares during the quarter. Pinnacle West Capital makes up 3.1% of Reaves W H & Co. Inc.’s investment portfolio, making the stock its 9th largest holding. Reaves W H & Co. Inc. owned 1.22% of Pinnacle West Capital worth $117,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its position in shares of Pinnacle West Capital by 0.9% during the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock valued at $567,394,000 after purchasing an additional 56,644 shares during the last quarter. Zimmer Partners LP boosted its stake in Pinnacle West Capital by 5.7% in the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after purchasing an additional 155,466 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Pinnacle West Capital by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock worth $91,078,000 after purchasing an additional 5,066 shares during the period. Empower Advisory Group LLC raised its holdings in shares of Pinnacle West Capital by 2.0% in the 3rd quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider’s stock valued at $86,230,000 after acquiring an additional 18,673 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Pinnacle West Capital by 1.6% in the 3rd quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider’s stock valued at $64,851,000 after acquiring an additional 11,208 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $94.22 on Tuesday. 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 business’s 50 day simple moving average is $87.14 and its two-hundred day simple moving average is $88.30. The stock has a market capitalization of $11.22 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. Pinnacle West Capital Co. has a one year low of $67.69 and a one year high of $95.42.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd were paid a $0.895 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a yield of 3.80%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 68.58%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PNW shares. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a report on Wednesday, December 4th. Citigroup raised their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Jefferies Financial Group decreased their price objective 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. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $87.13.

Pinnacle West Capital 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.