Pinnacle West Capital Co. (NYSE:PNW) Stake Lifted by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC increased its stake in Pinnacle West Capital Co. (NYSE:PNW) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,678 shares of the utilities provider’s stock after acquiring an additional 313 shares during the period. Ironwood Investment Counsel LLC’s holdings in Pinnacle West Capital were worth $649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Empirical Finance LLC lifted its position in shares of Pinnacle West Capital by 3.4% in the 1st quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 134 shares in the last quarter. MCF Advisors LLC lifted its position in shares of Pinnacle West Capital by 9.2% in the 4th quarter. MCF Advisors LLC now owns 2,070 shares of the utilities provider’s stock valued at $149,000 after acquiring an additional 174 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Pinnacle West Capital by 70.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 199 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Pinnacle West Capital by 4.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 4,921 shares of the utilities provider’s stock valued at $354,000 after acquiring an additional 229 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its position in shares of Pinnacle West Capital by 6.1% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 4,083 shares of the utilities provider’s stock valued at $293,000 after acquiring an additional 233 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Up 0.4 %

Shares of PNW traded up $0.30 during trading hours on Monday, hitting $82.47. 638,775 shares of the company were exchanged, compared to its average volume of 1,181,616. The company has a market cap of $9.37 billion, a PE ratio of 17.94, a PEG ratio of 2.10 and a beta of 0.51. The firm’s 50 day moving average is $77.19 and its 200-day moving average is $73.56. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $86.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.42 and a current ratio of 0.58.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.17. Pinnacle West Capital had a return on equity of 8.29% and a net margin of 11.09%. The company had revenue of $951.71 million during the quarter, compared to the consensus estimate of $981.82 million. During the same quarter in the prior year, the company posted ($0.03) EPS. The firm’s revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that Pinnacle West Capital Co. will post 4.76 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.52 annualized dividend and a dividend yield of 4.27%. Pinnacle West Capital’s dividend payout ratio is presently 76.69%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PNW shares. Morgan Stanley cut their target price on shares of Pinnacle West Capital from $76.00 to $72.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. StockNews.com downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Wells Fargo & Company increased their target price on shares of Pinnacle West Capital from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and increased their target price for the stock from $74.00 to $83.50 in a research report on Thursday, June 6th. Finally, Citigroup assumed coverage on shares of Pinnacle West Capital in a research report on Monday, April 29th. They issued a “neutral” rating and a $78.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.77.

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.