Jacobs Levy Equity Management Inc. Buys 27,605 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Jacobs Levy Equity Management Inc. raised its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 661,885 shares of the utilities provider’s stock after purchasing an additional 27,605 shares during the period. Jacobs Levy Equity Management Inc. owned 0.58% of Pinnacle West Capital worth $56,108,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. YANKCOM Partnership purchased a new position in shares of Pinnacle West Capital in the 4th quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan purchased a new stake 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 4th quarter valued at $38,000. Roble Belko & Company Inc purchased a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $42,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PNW. Guggenheim reiterated a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “hold” rating in a report on Tuesday, April 22nd. Jefferies Financial Group dropped their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. UBS Group upped their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, Barclays increased their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.83.

Pinnacle West Capital Stock Down 0.3%

Shares of PNW opened at $91.71 on Monday. The stock has a market capitalization of $10.95 billion, a PE ratio of 17.37, a P/E/G ratio of 3.59 and a beta of 0.45. Pinnacle West Capital Co. has a 1 year low of $74.45 and a 1 year high of $99.60. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The company’s 50-day simple moving average is $93.01 and its 200-day simple moving average is $90.01.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share 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%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. Analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be paid a $0.895 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.58 annualized dividend and a yield of 3.90%. Pinnacle West Capital’s dividend payout ratio is currently 71.17%.

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.