First Horizon Advisors Inc. Purchases 284 Shares of Pinnacle West Capital Co. (NYSE:PNW)

First Horizon Advisors Inc. lifted its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 852 shares of the utilities provider’s stock after purchasing an additional 284 shares during the quarter. First Horizon Advisors Inc.’s holdings in Pinnacle West Capital were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PNW. Financial Gravity Asset Management Inc. boosted its stake in Pinnacle West Capital by 338.3% during the third quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock worth $26,000 after buying an additional 274 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of Pinnacle West Capital during the 4th quarter worth about $26,000. Tobam boosted its position in shares of Pinnacle West Capital by 2,620.0% during the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 393 shares in the last quarter. Blue Trust Inc. increased its stake in Pinnacle West Capital by 985.7% in the fourth quarter. Blue Trust Inc. now owns 532 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 483 shares during the period. Finally, First Command Advisory Services Inc. acquired a new position in Pinnacle West Capital in the third quarter worth about $52,000. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PNW shares. Citigroup started coverage on Pinnacle West Capital in a report on Monday, April 29th. They set a “neutral” rating and a $78.00 price objective on the stock. Mizuho lowered their price target on Pinnacle West Capital from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Guggenheim raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Monday, January 22nd. LADENBURG THALM/SH SH assumed coverage on shares of Pinnacle West Capital in a report on Wednesday, February 14th. They issued a “neutral” rating and a $69.00 target price on the stock. Finally, Barclays lifted their price target on shares of Pinnacle West Capital from $75.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and a consensus price target of $73.67.

Pinnacle West Capital Stock Up 0.5 %

Shares of PNW opened at $76.41 on Wednesday. The business’s fifty day moving average price is $72.69 and its two-hundred day moving average price is $72.09. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.42 and a current ratio of 0.58. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 2.12 and a beta of 0.48. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $86.03.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.17. Pinnacle West Capital had a net margin of 11.09% and a return on equity of 8.29%. The company had revenue of $951.71 million for the quarter, compared to analyst estimates of $981.82 million. During the same quarter last year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts predict that Pinnacle West Capital Co. will post 4.72 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.52 annualized dividend and a dividend yield of 4.61%. Pinnacle West Capital’s dividend payout ratio is currently 76.69%.

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.