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

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

Other large investors have also recently made changes to their positions in the company. YANKCOM Partnership acquired a new stake in shares of Pinnacle West Capital in the 4th quarter valued at about $29,000. Venturi Wealth Management LLC lifted its position in Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 238 shares during the period. Brown Lisle Cummings Inc. acquired a new stake in Pinnacle West Capital during the 4th quarter worth approximately $38,000. Prospera Private Wealth LLC acquired a new stake in Pinnacle West Capital during the 3rd quarter worth approximately $43,000. Finally, Roble Belko & Company Inc acquired a new stake in Pinnacle West Capital during the 4th quarter worth approximately $42,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley decreased their price objective on 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. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Guggenheim reaffirmed a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on 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. Finally, Citigroup increased their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.13.

Pinnacle West Capital Stock Up 1.8 %

PNW opened at $94.22 on Tuesday. Pinnacle West Capital Co. has a 12 month low of $67.69 and a 12 month high of $95.42. The stock has a market capitalization of $11.22 billion, a P/E ratio of 17.84, a P/E/G ratio of 3.59 and a beta of 0.57. The business has a 50 day simple moving average of $87.14 and a 200-day simple moving average of $88.30. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. On average, equities analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal 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 paid a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Monday, February 3rd. 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.