QRG Capital Management Inc. Has $5.94 Million Stake in Pinnacle West Capital Co. (NYSE:PNW)

QRG Capital Management Inc. increased its stake in Pinnacle West Capital Co. (NYSE:PNW) by 4.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 70,121 shares of the utilities provider’s stock after purchasing an additional 3,162 shares during the quarter. QRG Capital Management Inc.’s holdings in Pinnacle West Capital were worth $5,944,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PNW. Versor Investments LP boosted its position in shares of Pinnacle West Capital by 41.9% during the fourth quarter. Versor Investments LP now owns 17,023 shares of the utilities provider’s stock worth $1,443,000 after buying an additional 5,023 shares during the period. Proficio Capital Partners LLC bought a new stake in Pinnacle West Capital in the 4th quarter valued at approximately $3,528,000. New York Life Investment Management LLC boosted its position in Pinnacle West Capital by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after acquiring an additional 127 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Pinnacle West Capital during the 4th quarter worth approximately $46,000. Finally, IFP Advisors Inc raised its holdings in shares of Pinnacle West Capital by 51.9% in the fourth quarter. IFP Advisors Inc now owns 3,906 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 1,334 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $92.53 on Friday. The stock has a market cap of $10.52 billion, a PE ratio of 17.53, a P/E/G ratio of 3.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm has a 50-day moving average of $86.80 and a 200-day moving average of $88.16. Pinnacle West Capital Co. has a 52-week low of $67.51 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) earnings per share (EPS) 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. On average, 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 declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 annualized dividend and a yield of 3.87%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Analyst Upgrades and Downgrades

PNW has been the subject of several recent research reports. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Citigroup raised their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group cut their price objective on 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, Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Pinnacle West Capital has an average rating of “Hold” and an average price target of $86.58.

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.