Massmutual Trust Co. FSB ADV Has $49,000 Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Massmutual Trust Co. FSB ADV lifted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 151.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 659 shares of the utilities provider’s stock after buying an additional 397 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Pinnacle West Capital were worth $49,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. abrdn plc lifted its stake in shares of Pinnacle West Capital by 120.0% during the 4th quarter. abrdn plc now owns 58,335 shares of the utilities provider’s stock worth $4,191,000 after buying an additional 31,821 shares during the last quarter. Virtu Financial LLC acquired a new stake in Pinnacle West Capital in the 4th quarter worth about $977,000. Comerica Bank acquired a new stake in Pinnacle West Capital in the 3rd quarter worth about $4,620,000. Duality Advisers LP acquired a new stake in Pinnacle West Capital in the 4th quarter worth about $1,422,000. Finally, Financial Counselors Inc. raised its stake in Pinnacle West Capital by 37.5% in the 4th quarter. Financial Counselors Inc. now owns 172,558 shares of the utilities provider’s stock worth $12,397,000 after purchasing an additional 47,035 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Down 1.2 %

Shares of NYSE PNW opened at $74.61 on Friday. The company has a market capitalization of $8.47 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.93 and a beta of 0.50. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $86.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.42 and a current ratio of 0.58. The company’s 50 day moving average price is $75.90 and its 200-day moving average price is $72.91.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. The firm had revenue of $951.71 million for the quarter, compared to the consensus estimate of $981.82 million. Pinnacle West Capital had a net margin of 11.09% and a return on equity of 8.29%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) EPS. Equities analysts forecast that Pinnacle West Capital Co. will post 4.77 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.72%. Pinnacle West Capital’s payout ratio is presently 76.69%.

Analysts Set New Price Targets

PNW has been the subject of several analyst reports. Bank of America upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $71.00 to $80.00 in a research note on Monday, March 18th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $74.00 to $83.50 in a research note on Thursday, June 6th. Wells Fargo & Company boosted their target price on shares of Pinnacle West Capital from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Evercore ISI dropped their target price on shares of Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a research report on Monday, March 4th. Finally, Mizuho dropped their target price on shares of Pinnacle West Capital from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and an average target price of $76.04.

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.