Geneos Wealth Management Inc. Cuts Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Geneos Wealth Management Inc. reduced its position in Pinnacle West Capital Co. (NYSE:PNW) by 25.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,099 shares of the utilities provider’s stock after selling 370 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Pinnacle West Capital were worth $82,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PNW. MeadowBrook Investment Advisors LLC purchased a new position in Pinnacle West Capital during the 4th quarter worth $25,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Pinnacle West Capital during the fourth quarter valued at about $26,000. Tobam raised its position 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 purchasing an additional 393 shares during the last quarter. First United Bank & Trust acquired a new stake in Pinnacle West Capital in the 4th quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. grew its position in Pinnacle West Capital by 70.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 199 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Up 0.3 %

Shares of PNW opened at $80.25 on Friday. The firm has a market cap of $9.11 billion, a P/E ratio of 17.48, a PEG ratio of 2.00 and a beta of 0.51. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $86.03. The stock’s 50 day moving average is $76.73 and its two-hundred day moving average is $73.22. The company has a current ratio of 0.58, a quick ratio of 0.42 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $951.71 million during the quarter, compared to analysts’ expectations of $981.82 million. During the same quarter in the previous year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. Analysts predict that Pinnacle West Capital Co. will post 4.76 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. Shareholders of record on Thursday, August 1st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, August 1st. Pinnacle West Capital’s dividend payout ratio (DPR) is 76.69%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PNW shares. Citigroup assumed coverage on shares of Pinnacle West Capital in a research note on Monday, April 29th. They set a “neutral” rating and a $78.00 price objective for the company. LADENBURG THALM/SH SH raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and increased their price objective for the company from $74.00 to $83.50 in a report on Thursday, June 6th. Bank of America upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and upped their target price for the company from $71.00 to $80.00 in a research report on Monday, March 18th. Morgan Stanley dropped their price objective on shares of Pinnacle West Capital from $76.00 to $72.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Finally, Wells Fargo & Company boosted their target price on shares of Pinnacle West Capital from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Pinnacle West Capital presently has a consensus rating of “Hold” and an average target price of $75.46.

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.