Sowell Financial Services LLC Purchases 1,200 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Sowell Financial Services LLC grew its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 11.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,783 shares of the utilities provider’s stock after purchasing an additional 1,200 shares during the quarter. Sowell Financial Services LLC’s holdings in Pinnacle West Capital were worth $999,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in Pinnacle West Capital by 116.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,797 shares of the utilities provider’s stock worth $159,000 after buying an additional 966 shares in the last quarter. Van ECK Associates Corp grew its position in Pinnacle West Capital by 7.3% during the third quarter. Van ECK Associates Corp now owns 31,440 shares of the utilities provider’s stock valued at $2,808,000 after acquiring an additional 2,139 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Pinnacle West Capital during the third quarter worth approximately $352,000. Principal Financial Group Inc. lifted its holdings in shares of Pinnacle West Capital by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock worth $12,336,000 after acquiring an additional 9,993 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at $1,168,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW opened at $91.97 on Tuesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The stock has a market capitalization of $10.95 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The stock’s 50 day moving average price is $87.76 and its 200-day moving average price is $88.46. Pinnacle West Capital Co. has a 52-week low of $69.50 and a 52-week high of $95.42.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data 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. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, equities research analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd were issued a $0.895 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.58 annualized dividend and a yield of 3.89%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 68.58%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Guggenheim reiterated a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Citigroup lifted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Morgan Stanley dropped their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group decreased their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and a consensus target price of $90.15.

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.