Versor Investments LP Boosts Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Versor Investments LP grew its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 41.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,023 shares of the utilities provider’s stock after buying an additional 5,023 shares during the quarter. Versor Investments LP’s holdings in Pinnacle West Capital were worth $1,443,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PNW. YANKCOM Partnership purchased a new position in Pinnacle West Capital during the fourth quarter worth about $29,000. Venturi Wealth Management LLC increased its position in Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 238 shares during the period. Brown Lisle Cummings Inc. acquired a new position in Pinnacle West Capital during the 4th quarter worth approximately $38,000. Roble Belko & Company Inc purchased a new position in shares of Pinnacle West Capital during the 4th quarter worth approximately $42,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW stock opened at $91.67 on Thursday. The stock’s 50 day moving average price is $86.53 and its 200 day moving average price is $88.12. The firm has a market cap of $10.42 billion, a P/E ratio of 17.36, a PEG ratio of 3.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 1 year low of $66.77 and a 1 year 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 the consensus estimate of ($0.31) by $0.25. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. On average, sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.91%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Wall Street Analysts Forecast Growth

PNW has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. KeyCorp raised shares of 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 note on Wednesday, December 4th. Morgan Stanley reduced their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, Wells Fargo & Company increased their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.58.

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.