Pinnacle West Capital Co. (NYSE:PNW) is AlphaQuest LLC’s 4th Largest Position

AlphaQuest LLC lifted its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 44.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 41,315 shares of the utilities provider’s stock after purchasing an additional 12,737 shares during the quarter. Pinnacle West Capital comprises approximately 0.5% of AlphaQuest LLC’s holdings, making the stock its 4th largest holding. AlphaQuest LLC’s holdings in Pinnacle West Capital were worth $3,502,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PNW. Assenagon Asset Management S.A. grew its holdings in shares of Pinnacle West Capital by 221.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock worth $57,413,000 after purchasing an additional 466,736 shares during the period. Jennison Associates LLC purchased a new stake in shares of Pinnacle West Capital during the 4th quarter worth about $32,078,000. Reaves W H & Co. Inc. grew its holdings in shares of Pinnacle West Capital by 35.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,390,715 shares of the utilities provider’s stock worth $117,891,000 after purchasing an additional 362,083 shares during the period. Yaupon Capital Management LP purchased a new stake in shares of Pinnacle West Capital during the 3rd quarter worth about $22,173,000. Finally, Zimmer Partners LP grew its holdings in shares of Pinnacle West Capital by 5.7% during the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after purchasing an additional 155,466 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $91.91 on Friday. The business’s 50 day moving average is $87.62 and its two-hundred day moving average is $88.42. Pinnacle West Capital Co. has a 52-week low of $69.50 and a 52-week high of $95.42. 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 (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. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 3rd were given a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is currently 68.58%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PNW. Morgan Stanley reduced their price target on 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. Citigroup boosted their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Guggenheim reissued a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and a consensus price target of $90.15.

Pinnacle West Capital 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.