Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by Machina Capital S.A.S.

Machina Capital S.A.S. boosted its position in Pinnacle West Capital Co. (NYSE:PNW) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,206 shares of the utilities provider’s stock after purchasing an additional 1,412 shares during the period. Machina Capital S.A.S.’s holdings in Pinnacle West Capital were worth $661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PNW. Victory Capital Management Inc. lifted its stake in shares of Pinnacle West Capital by 1,267.8% in the fourth quarter. Victory Capital Management Inc. now owns 311,861 shares of the utilities provider’s stock valued at $22,404,000 after purchasing an additional 289,061 shares during the period. Barclays PLC boosted its stake in shares of Pinnacle West Capital by 99.4% during the 3rd quarter. Barclays PLC now owns 332,043 shares of the utilities provider’s stock worth $24,465,000 after acquiring an additional 165,495 shares in the last quarter. UBS Group AG grew its holdings in shares of Pinnacle West Capital by 83.2% in the 3rd quarter. UBS Group AG now owns 308,765 shares of the utilities provider’s stock worth $22,750,000 after acquiring an additional 140,215 shares during the period. Trexquant Investment LP purchased a new position in Pinnacle West Capital in the 3rd quarter valued at approximately $6,709,000. Finally, Assenagon Asset Management S.A. acquired a new position in Pinnacle West Capital during the fourth quarter worth $5,994,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Pinnacle West Capital from $74.00 to $77.00 and gave the company an “equal weight” rating in a research report on Friday. Barclays upped their price target on shares of Pinnacle West Capital from $75.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Evercore ISI dropped their price objective on shares of Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a research note on Monday, March 4th. Citigroup initiated coverage on Pinnacle West Capital in a research note on Monday, April 29th. They issued a “neutral” rating and a $78.00 target price on the stock. Finally, UBS Group raised Pinnacle West Capital from a “sell” rating to a “neutral” rating and raised their price target for the stock from $68.00 to $71.00 in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.67.

Pinnacle West Capital Trading Up 0.3 %

NYSE:PNW traded up $0.22 during mid-day trading on Monday, reaching $76.01. The company’s stock had a trading volume of 706,274 shares, compared to its average volume of 1,306,161. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.58 and a quick ratio of 0.42. The stock has a market cap of $8.63 billion, a P/E ratio of 16.56, a P/E/G ratio of 2.12 and a beta of 0.48. The company’s fifty day simple moving average is $72.55 and its two-hundred day simple moving average is $72.08. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $86.03.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.17. Pinnacle West Capital had a net margin of 11.09% and a return on equity of 8.29%. The company had revenue of $951.71 million during the quarter, compared to analysts’ expectations of $981.82 million. During the same period in the previous year, the company earned ($0.03) EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts predict that Pinnacle West Capital Co. will post 4.72 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Tuesday, April 30th. Pinnacle West Capital’s payout ratio is currently 76.69%.

Pinnacle West Capital Company 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.