Mesirow Financial Investment Management Inc. Grows Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Mesirow Financial Investment Management Inc. grew its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,724 shares of the utilities provider’s stock after purchasing an additional 116 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Pinnacle West Capital were worth $1,163,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in Pinnacle West Capital in the 4th quarter worth approximately $4,892,000. Arizona State Retirement System lifted its stake in Pinnacle West Capital by 0.8% in the 4th quarter. Arizona State Retirement System now owns 32,972 shares of the utilities provider’s stock worth $2,795,000 after purchasing an additional 273 shares in the last quarter. Aigen Investment Management LP purchased a new position in Pinnacle West Capital in the 4th quarter worth approximately $648,000. Proficio Capital Partners LLC purchased a new position in Pinnacle West Capital in the 4th quarter worth approximately $3,528,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Pinnacle West Capital by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,031,190 shares of the utilities provider’s stock worth $87,414,000 after purchasing an additional 3,102 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of research reports. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research note on Wednesday, December 4th. Morgan Stanley reduced their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Wells Fargo & Company lifted their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group reduced their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.15.

Pinnacle West Capital Stock Up 1.3 %

Shares of NYSE PNW opened at $91.91 on Friday. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 3.59 and a beta of 0.53. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 52-week low of $69.50 and a 52-week high of $95.42. The business’s 50 day moving average is $87.62 and its two-hundred day moving average is $88.41.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Research analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd were paid a $0.895 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 3.90%. Pinnacle West Capital’s dividend payout ratio (DPR) is 68.58%.

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.