Pinnacle West Capital Co. (NYSE:PNW) Holdings Lifted by Ibex Wealth Advisors

Ibex Wealth Advisors increased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 41,600 shares of the utilities provider’s stock after purchasing an additional 524 shares during the quarter. Ibex Wealth Advisors’ holdings in Pinnacle West Capital were worth $3,741,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PNW. Amundi Pioneer Asset Management Inc. increased its holdings in Pinnacle West Capital by 63.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 162,326 shares of the utilities provider’s stock worth $15,515,000 after purchasing an additional 63,204 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Pinnacle West Capital by 16.5% in the 2nd quarter. Mackenzie Financial Corp now owns 4,647 shares of the utilities provider’s stock valued at $437,000 after purchasing an additional 657 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Pinnacle West Capital in the 2nd quarter valued at about $1,149,000. CSat Investment Advisory L.P. raised its stake in shares of Pinnacle West Capital by 50.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 448 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 150 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Pinnacle West Capital by 13.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 619,788 shares of the utilities provider’s stock valued at $58,316,000 after purchasing an additional 74,407 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Pinnacle West Capital stock traded up $1.09 during midday trading on Friday, reaching $96.62. 31,581 shares of the company’s stock were exchanged, compared to its average volume of 748,944. Pinnacle West Capital Co. has a 52 week low of $84.26 and a 52 week high of $99.81. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.52 and a current ratio of 0.71. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 4.13 and a beta of 0.05. The stock’s 50-day simple moving average is $89.42 and its 200 day simple moving average is $92.07.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $2.77 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.23). Pinnacle West Capital had a return on equity of 9.19% and a net margin of 14.07%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business posted $2.80 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Research analysts forecast that Pinnacle West Capital Co. will post 4.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 3rd will be issued a dividend of $0.7825 per share. This represents a $3.13 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, January 31st. Pinnacle West Capital’s payout ratio is currently 68.94%.

Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Pinnacle West Capital from a “hold” rating to a “sell” rating and set a $99.00 price objective for the company. in a report on Friday, October 18th. Credit Suisse Group raised their price objective on Pinnacle West Capital from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Barclays upgraded Pinnacle West Capital from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $103.00 to $98.00 in a report on Thursday, November 21st. Bank of America restated a “hold” rating and issued a $97.00 price objective on shares of Pinnacle West Capital in a report on Wednesday. Finally, Morgan Stanley decreased their price objective on Pinnacle West Capital from $95.00 to $87.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $97.55.

In other Pinnacle West Capital news, VP Barbara D. Lockwood sold 1,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $86.19, for a total transaction of $150,832.50. Following the completion of the sale, the vice president now directly owns 1,646 shares in the company, valued at $141,868.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.

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Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Co. (NYSE:PNW).

Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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