Arizona State Retirement System Has $2.80 Million Stake in Pinnacle West Capital Co. (NYSE:PNW)

Arizona State Retirement System grew its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,972 shares of the utilities provider’s stock after purchasing an additional 273 shares during the quarter. Arizona State Retirement System’s holdings in Pinnacle West Capital were worth $2,795,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. YANKCOM Partnership acquired a new stake in Pinnacle West Capital in the 4th quarter valued at approximately $29,000. Venturi Wealth Management LLC grew its stake in shares of Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 238 shares during the last quarter. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital in the fourth quarter worth $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital during the fourth quarter worth $42,000. Finally, Prospera Private Wealth LLC acquired a new position in Pinnacle West Capital during the 3rd quarter valued at $43,000. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective 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. Wells Fargo & Company upped their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a report on Wednesday, December 4th. Citigroup boosted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.15.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $91.91 on Monday. The firm has a market capitalization of $10.95 billion, a P/E ratio of 17.41, a P/E/G ratio of 3.59 and a beta of 0.53. The stock has a fifty day moving average price of $87.62 and a two-hundred day moving average price of $88.43. Pinnacle West Capital Co. has a 52-week low of $69.50 and a 52-week high of $95.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

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

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd were paid a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is presently 68.58%.

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.