Natixis Invests $4.06 Million in Pinnacle West Capital Co. (NYSE:PNW)

Natixis acquired a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 54,383 shares of the utilities provider’s stock, valued at approximately $4,064,000.

Other large investors have also modified their holdings of the company. MeadowBrook Investment Advisors LLC purchased a new position in shares of Pinnacle West Capital during the 4th quarter worth about $25,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Pinnacle West Capital during the 4th quarter worth about $26,000. First United Bank & Trust purchased a new position in Pinnacle West Capital in the fourth quarter valued at approximately $29,000. Tobam raised its holdings in Pinnacle West Capital by 2,620.0% in the fourth quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 393 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its holdings in Pinnacle West Capital by 70.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after buying an additional 199 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Up 0.6 %

PNW stock opened at $84.10 on Friday. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $84.92. The company has a current ratio of 0.58, a quick ratio of 0.42 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $9.55 billion, a P/E ratio of 18.20, a PEG ratio of 2.14 and a beta of 0.51. The firm has a 50 day simple moving average of $77.64 and a 200-day simple moving average of $73.81.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $981.82 million. During the same quarter last year, the company earned ($0.03) earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts predict that Pinnacle West Capital Co. will post 4.75 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Thursday, August 1st. Pinnacle West Capital’s payout ratio is currently 76.69%.

Wall Street Analyst Weigh In

PNW has been the topic of several research reports. Barclays cut their price target on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. StockNews.com lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their price target for the company from $74.00 to $83.50 in a report on Thursday, June 6th. Morgan Stanley cut 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 report on Monday, June 24th. Finally, Citigroup began coverage on shares of Pinnacle West Capital in a report on Monday, April 29th. They issued a “neutral” rating and a $78.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Pinnacle West Capital has an average rating of “Hold” and an average price target 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.