First Hawaiian Bank Has $805,000 Stake in Pinnacle West Capital Co. (NYSE:PNW)

First Hawaiian Bank boosted its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 95.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,770 shares of the utilities provider’s stock after acquiring an additional 5,257 shares during the quarter. First Hawaiian Bank’s holdings in Pinnacle West Capital were worth $805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at $25,000. Financial Gravity Asset Management Inc. lifted its stake in Pinnacle West Capital by 338.3% in the third quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock valued at $26,000 after buying an additional 274 shares during the period. BOK Financial Private Wealth Inc. bought a new position in Pinnacle West Capital during the fourth quarter worth about $26,000. First United Bank & Trust acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth about $29,000. Finally, Tobam increased its stake in shares of Pinnacle West Capital by 2,620.0% in the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 393 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $75.48 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.58 and a quick ratio of 0.42. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.91 and a beta of 0.50. The stock’s 50-day moving average is $75.85 and its 200-day moving average is $72.92. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $86.03.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The business had revenue of $951.71 million for the quarter, compared to analyst estimates of $981.82 million. Pinnacle West Capital had a return on equity of 8.29% and a net margin of 11.09%. Pinnacle West Capital’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) EPS. Equities analysts predict that Pinnacle West Capital Co. will post 4.77 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.66%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 76.69%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PNW. Royal Bank of Canada reduced their price objective on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Friday, March 1st. Citigroup started coverage on shares of Pinnacle West Capital in a report on Monday, April 29th. They issued a “neutral” rating and a $78.00 price target for the company. Bank of America raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $71.00 to $80.00 in a research note on Monday, March 18th. Evercore ISI decreased their target price on Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a research note on Monday, March 4th. Finally, StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Friday, June 7th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $76.04.

About Pinnacle West Capital

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.