Sowell Financial Services LLC Acquires 1,200 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Sowell Financial Services LLC boosted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 11.3% in the fourth quarter, HoldingsChannel reports. The fund owned 11,783 shares of the utilities provider’s stock after acquiring an additional 1,200 shares during the period. Sowell Financial Services LLC’s holdings in Pinnacle West Capital were worth $999,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Pinnacle West Capital by 0.9% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock valued at $1,163,000 after purchasing an additional 116 shares during the last quarter. Fortem Financial Group LLC increased its position in Pinnacle West Capital by 2.2% during the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after buying an additional 124 shares in the last quarter. New York Life Investment Management LLC raised its stake in Pinnacle West Capital by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock valued at $1,264,000 after buying an additional 127 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Pinnacle West Capital by 10.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock worth $135,000 after acquiring an additional 156 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its stake in shares of Pinnacle West Capital by 2.5% in the third quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock worth $593,000 after acquiring an additional 163 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

NYSE PNW opened at $91.97 on Tuesday. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 3.59 and a beta of 0.53. 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 business’s fifty day moving average price is $87.76 and its 200-day moving average price is $88.46.

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

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 3rd were given a dividend of $0.895 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.58 annualized dividend and a yield of 3.89%. Pinnacle West Capital’s dividend payout ratio (DPR) is 68.58%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PNW shares. Barclays downgraded 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 report on Monday, November 18th. Morgan Stanley reduced 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 note on Friday, November 22nd. Citigroup increased their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group decreased their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $90.15.

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.