7,650 Shares in Pinnacle West Capital Co. (NYSE:PNW) Bought by Aigen Investment Management LP

Aigen Investment Management LP purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,650 shares of the utilities provider’s stock, valued at approximately $648,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNW. YANKCOM Partnership purchased a new stake in Pinnacle West Capital during the 4th quarter worth $29,000. Venturi Wealth Management LLC increased its position 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 worth $38,000 after purchasing an additional 238 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of Pinnacle West Capital in the 4th quarter worth about $38,000. Roble Belko & Company Inc bought a new stake in shares of Pinnacle West Capital in the 4th quarter worth about $42,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Pinnacle West Capital in the 3rd quarter worth about $43,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Down 0.4 %

Pinnacle West Capital stock opened at $90.69 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $87.48 and a two-hundred day moving average price of $88.37. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 3.59 and a beta of 0.53. Pinnacle West Capital Co. has a 52-week low of $69.50 and a 52-week high of $95.42.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd were paid a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Monday, February 3rd. Pinnacle West Capital’s payout ratio is 68.58%.

Analyst Ratings Changes

PNW has been the subject of several research analyst reports. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research report on Wednesday, December 4th. Citigroup boosted their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Jefferies Financial Group dropped their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Morgan Stanley lowered their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Pinnacle West Capital has an average rating of “Hold” and a consensus price target of $90.15.

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.