Pinnacle West Capital Co. (NYSE:PNW) Stake Lifted by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its stake in Pinnacle West Capital Co. (NYSE:PNW) by 5.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 641,865 shares of the utilities provider’s stock after buying an additional 31,183 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.57% of Pinnacle West Capital worth $47,967,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its position in Pinnacle West Capital by 604.2% in the 4th quarter. Pacer Advisors Inc. now owns 50,631 shares of the utilities provider’s stock valued at $3,637,000 after purchasing an additional 43,441 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Pinnacle West Capital during the fourth quarter valued at approximately $5,994,000. Blue Trust Inc. boosted its position in shares of Pinnacle West Capital by 985.7% during the fourth quarter. Blue Trust Inc. now owns 532 shares of the utilities provider’s stock worth $39,000 after buying an additional 483 shares during the period. ERn Financial LLC grew its holdings in Pinnacle West Capital by 20.0% in the 4th quarter. ERn Financial LLC now owns 8,119 shares of the utilities provider’s stock worth $563,000 after buying an additional 1,351 shares in the last quarter. Finally, Mirador Capital Partners LP increased its position in Pinnacle West Capital by 5.8% in the 4th quarter. Mirador Capital Partners LP now owns 7,418 shares of the utilities provider’s stock valued at $533,000 after acquiring an additional 404 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Trading Up 0.3 %

PNW stock traded up $0.26 during mid-day trading on Tuesday, reaching $85.45. 922,785 shares of the stock traded hands, compared to its average volume of 1,163,549. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $85.86. The stock’s fifty day moving average is $77.91 and its 200-day moving average is $73.99. The company has a market cap of $9.70 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.17 and a beta of 0.51. The company has a current ratio of 0.58, a quick ratio of 0.42 and a debt-to-equity ratio of 1.20.

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, beating analysts’ consensus estimates 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 business had revenue of $951.71 million for the quarter, compared to analyst estimates of $981.82 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that Pinnacle West Capital Co. will post 4.75 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, August 1st. This represents a $3.52 annualized dividend and a dividend yield of 4.12%. Pinnacle West Capital’s dividend payout ratio is 76.69%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. StockNews.com lowered 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 company an “equal weight” rating in a research report on Wednesday, June 5th. Morgan Stanley dropped their price target on shares of Pinnacle West Capital from $76.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Barclays reduced their price target on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Finally, Citigroup started coverage on shares of Pinnacle West Capital in a research note on Monday, April 29th. They set a “neutral” rating and a $78.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.77.

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.