Pinnacle West Capital Co. (NYSE:PNW) Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC grew its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,916 shares of the utilities provider’s stock after purchasing an additional 127 shares during the period. New York Life Investment Management LLC’s holdings in Pinnacle West Capital were worth $1,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $29,000. Venturi Wealth Management LLC raised its holdings in shares of Pinnacle West Capital by 124.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after buying an additional 238 shares during the period. 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, Prospera Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

PNW has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective 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. Morgan Stanley cut their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Citigroup boosted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Guggenheim restated a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Finally, Jefferies Financial Group cut their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.13.

Pinnacle West Capital Trading Up 1.8 %

PNW opened at $94.22 on Tuesday. Pinnacle West Capital Co. has a one year low of $67.69 and a one year high of $95.42. The company has a market cap of $11.22 billion, a P/E ratio of 17.84, a PEG ratio of 3.59 and a beta of 0.57. 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 business’s 50-day simple moving average is $87.14 and its 200-day simple moving average is $88.30.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. As a group, equities research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd were issued a $0.895 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.80%. Pinnacle West Capital’s payout ratio is currently 68.58%.

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.