Allworth Financial LP Has $56,000 Stake in Pinnacle West Capital Co. (NYSE:PNW)

Allworth Financial LP boosted its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 125.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 655 shares of the utilities provider’s stock after buying an additional 365 shares during the period. Allworth Financial LP’s holdings in Pinnacle West Capital were worth $56,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $29,000. Venturi Wealth Management LLC grew its stake in shares of Pinnacle West Capital by 124.6% during the third 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. bought a new stake in Pinnacle West Capital in the fourth quarter valued at about $38,000. Roble Belko & Company Inc acquired a new position in Pinnacle West Capital in the fourth quarter valued at about $42,000. Finally, Prospera Private Wealth LLC acquired a new position in Pinnacle West Capital in the third quarter valued at about $43,000. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Up 1.1 %

PNW stock opened at $93.11 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The stock has a market capitalization of $10.59 billion, a P/E ratio of 17.64, a P/E/G ratio of 3.59 and a beta of 0.57. Pinnacle West Capital Co. has a fifty-two week low of $66.77 and a fifty-two week high of $95.42. The business has a 50-day moving average of $86.39 and a 200-day moving average of $88.07.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. On average, sell-side analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 annualized dividend and a yield of 3.84%. Pinnacle West Capital’s payout ratio is currently 67.80%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Citigroup lifted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lowered their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Morgan Stanley dropped their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and an average price target of $85.21.

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.