Savant Capital LLC Decreases Position in Pinnacle West Capital Co. (NYSE:PNW)

Savant Capital LLC decreased its position in Pinnacle West Capital Co. (NYSE:PNW) by 17.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,873 shares of the utilities provider’s stock after selling 813 shares during the period. Savant Capital LLC’s holdings in Pinnacle West Capital were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in shares of Pinnacle West Capital by 1.0% in the third quarter. FMR LLC now owns 1,153,505 shares of the utilities provider’s stock worth $84,990,000 after acquiring an additional 11,591 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Pinnacle West Capital by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 963,193 shares of the utilities provider’s stock valued at $70,968,000 after acquiring an additional 9,696 shares during the last quarter. Empower Advisory Group LLC grew its position in shares of Pinnacle West Capital by 1.5% in the third quarter. Empower Advisory Group LLC now owns 886,891 shares of the utilities provider’s stock valued at $65,346,000 after purchasing an additional 12,850 shares during the period. California Public Employees Retirement System increased its stake in Pinnacle West Capital by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 649,736 shares of the utilities provider’s stock valued at $46,677,000 after purchasing an additional 7,341 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Pinnacle West Capital by 1.4% during the third quarter. Ameriprise Financial Inc. now owns 595,799 shares of the utilities provider’s stock worth $43,898,000 after buying an additional 8,436 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.3 %

PNW opened at $76.01 on Tuesday. The firm’s 50 day moving average is $72.55 and its 200-day moving average is $72.08. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $86.03. The company has a quick ratio of 0.42, a current ratio of 0.58 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $8.63 billion, a P/E ratio of 16.56, a P/E/G ratio of 2.12 and a beta of 0.48.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.17. The firm had revenue of $951.71 million for the quarter, compared to the consensus estimate of $981.82 million. Pinnacle West Capital had a net margin of 11.09% and a return on equity of 8.29%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) EPS. Analysts expect that Pinnacle West Capital Co. will post 4.72 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.52 dividend on an annualized basis and a yield of 4.63%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 76.69%.

Analyst Ratings Changes

A number of research firms have recently commented on PNW. StockNews.com downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Royal Bank of Canada decreased their price target on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, March 1st. Morgan Stanley upped their price objective on Pinnacle West Capital from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Citigroup started coverage on Pinnacle West Capital in a report on Monday, April 29th. They issued a “neutral” rating and a $78.00 target price on the stock. Finally, Barclays upped their price target on Pinnacle West Capital from $75.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.67.

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.