Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by Mirador Capital Partners LP

Mirador Capital Partners LP grew its position in Pinnacle West Capital Co. (NYSE:PNW) by 6.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,915 shares of the utilities provider’s stock after acquiring an additional 497 shares during the period. Mirador Capital Partners LP’s holdings in Pinnacle West Capital were worth $591,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PNW. Hennion & Walsh Asset Management Inc. grew its position in shares of Pinnacle West Capital by 12.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 25,376 shares of the utilities provider’s stock valued at $1,896,000 after purchasing an additional 2,885 shares during the period. ERn Financial LLC boosted its stake in shares of Pinnacle West Capital by 57.9% in the first quarter. ERn Financial LLC now owns 12,816 shares of the utilities provider’s stock worth $958,000 after acquiring an additional 4,697 shares during the last quarter. Riverview Trust Co acquired a new position in Pinnacle West Capital in the 1st quarter valued at $46,000. Gateway Investment Advisers LLC raised its stake in Pinnacle West Capital by 89.0% in the 1st quarter. Gateway Investment Advisers LLC now owns 57,921 shares of the utilities provider’s stock valued at $4,328,000 after purchasing an additional 27,283 shares during the last quarter. Finally, Rockland Trust Co. lifted its holdings in Pinnacle West Capital by 5.0% in the 1st quarter. Rockland Trust Co. now owns 14,284 shares of the utilities provider’s stock valued at $1,067,000 after purchasing an additional 684 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Performance

NYSE:PNW opened at $75.72 on Tuesday. The stock has a market capitalization of $8.60 billion, a P/E ratio of 16.50, a PEG ratio of 1.95 and a beta of 0.51. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.42 and a current ratio of 0.58. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $86.03. The company has a 50 day moving average price of $76.24 and a 200 day moving average price of $72.90.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. Pinnacle West Capital had a return on equity of 8.29% and a net margin of 11.09%. The business had revenue of $951.71 million during the quarter, compared to analysts’ expectations of $981.82 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The company’s revenue was up .7% on a year-over-year basis. Equities research analysts forecast that Pinnacle West Capital Co. will post 4.76 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Thursday, August 1st. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 76.69%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PNW. StockNews.com lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Morgan Stanley dropped their price target on Pinnacle West Capital from $76.00 to $72.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Evercore ISI cut their price target on Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a report on Monday, March 4th. Finally, Bank of America raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $71.00 to $80.00 in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Pinnacle West Capital currently has an average rating of “Hold” and an average price target of $75.71.

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.