Versor Investments LP Raises Position in Pinnacle West Capital Co. (NYSE:PNW)

Versor Investments LP increased its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 41.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,023 shares of the utilities provider’s stock after purchasing an additional 5,023 shares during the period. Versor Investments LP’s holdings in Pinnacle West Capital were worth $1,443,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. YANKCOM Partnership acquired a new stake in Pinnacle West Capital in the 4th quarter worth about $29,000. Venturi Wealth Management LLC boosted its position in shares of Pinnacle West Capital by 124.6% in the third 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 last quarter. Brown Lisle Cummings Inc. purchased a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $38,000. Prospera Private Wealth LLC acquired a new position in Pinnacle West Capital during the third quarter worth approximately $43,000. Finally, Roble Belko & Company Inc acquired a new position in Pinnacle West Capital during the fourth quarter worth approximately $42,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Down 1.6 %

PNW opened at $91.67 on Thursday. The firm has a market capitalization of $10.42 billion, a P/E ratio of 17.36, a P/E/G ratio of 3.59 and a beta of 0.57. The firm’s 50 day moving average is $86.53 and its 200-day moving average is $88.12. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 52-week low of $66.77 and a 52-week high of $95.42.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion for 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%. 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 declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Jefferies Financial Group lowered 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 research note on Tuesday, January 28th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research report on Wednesday, December 4th. Guggenheim restated a “buy” rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday. Morgan Stanley reduced their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Finally, Citigroup increased 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. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and an average price target of $86.58.

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.