Natixis Invests $4.06 Million in Pinnacle West Capital Co. (NYSE:PNW)

Natixis purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 54,383 shares of the utilities provider’s stock, valued at approximately $4,064,000.

Several other institutional investors and hedge funds have also modified their holdings of PNW. Pacer Advisors Inc. boosted its stake in shares of Pinnacle West Capital by 604.2% during the 4th quarter. Pacer Advisors Inc. now owns 50,631 shares of the utilities provider’s stock worth $3,637,000 after acquiring an additional 43,441 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Pinnacle West Capital during the 4th quarter valued at $5,994,000. Blue Trust Inc. lifted its stake in shares of Pinnacle West Capital by 985.7% during the 4th quarter. Blue Trust Inc. now owns 532 shares of the utilities provider’s stock valued at $39,000 after buying an additional 483 shares in the last quarter. ERn Financial LLC lifted its stake in shares of Pinnacle West Capital by 20.0% during the 4th quarter. ERn Financial LLC now owns 8,119 shares of the utilities provider’s stock valued at $563,000 after buying an additional 1,351 shares in the last quarter. Finally, Mirador Capital Partners LP lifted its stake in shares of Pinnacle West Capital by 5.8% during the 4th quarter. Mirador Capital Partners LP now owns 7,418 shares of the utilities provider’s stock valued at $533,000 after buying an additional 404 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

PNW has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of Pinnacle West Capital from $76.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Wells Fargo & Company lifted 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 note on Wednesday, June 5th. StockNews.com cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Barclays lowered their target price on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and lifted their target price for the company from $74.00 to $83.50 in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $76.77.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $84.10 on Friday. The company’s 50-day moving average price is $77.64 and its 200-day moving average price is $73.81. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $84.92. The company has a quick ratio of 0.42, a current ratio of 0.58 and a debt-to-equity ratio of 1.20. The company has a market cap of $9.55 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 2.14 and a beta of 0.51.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. Pinnacle West Capital had a net margin of 11.09% and a return on equity of 8.29%. The firm 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 company earned ($0.03) EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts forecast that Pinnacle West Capital Co. will post 4.75 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be paid 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 4.19%. Pinnacle West Capital’s dividend payout ratio is presently 76.69%.

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.