Pinnacle West Capital Co. (NYSE:PNW) Shares Acquired by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. grew its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,724 shares of the utilities provider’s stock after acquiring an additional 116 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Pinnacle West Capital were worth $1,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PNW. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital in the fourth quarter worth $29,000. Venturi Wealth Management LLC grew its stake in shares of Pinnacle West Capital by 124.6% during the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 238 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth $38,000. Roble Belko & Company Inc acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth $42,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Pinnacle West Capital during the third quarter worth $43,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of PNW opened at $91.91 on Friday. The firm has a fifty day moving average price of $87.62 and a 200 day moving average price of $88.41. Pinnacle West Capital Co. has a 1-year low of $69.50 and a 1-year 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. The stock has a market cap of $10.95 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.06 billion. As a group, sell-side analysts anticipate that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on PNW. Morgan Stanley lowered their target price on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. 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 note 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 note on Wednesday, February 26th. Jefferies Financial Group lowered 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 note on Tuesday, January 28th. Finally, Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and an average 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.