CreativeOne Wealth LLC Buys New Shares in Pinnacle West Capital Co. (NYSE:PNW)

CreativeOne Wealth LLC bought a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,765 shares of the utilities provider’s stock, valued at approximately $342,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Addison Advisors LLC increased its stake in shares of Pinnacle West Capital by 16.6% during the 3rd quarter. Addison Advisors LLC now owns 1,014 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 144 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Pinnacle West Capital by 9.2% during the 4th quarter. MCF Advisors LLC now owns 2,070 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 174 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Pinnacle West Capital by 4.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 4,921 shares of the utilities provider’s stock worth $354,000 after purchasing an additional 229 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in shares of Pinnacle West Capital by 6.1% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 4,083 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 233 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Pinnacle West Capital by 3.3% during the 3rd quarter. M&T Bank Corp now owns 7,440 shares of the utilities provider’s stock worth $549,000 after purchasing an additional 238 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PNW. Bank of America upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and upped their price target for the company from $71.00 to $80.00 in a research note on Monday, March 18th. UBS Group raised shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and boosted their target price for the company from $68.00 to $71.00 in a research report on Monday, March 11th. Royal Bank of Canada decreased their price target on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Friday, March 1st. Morgan Stanley lifted their price objective on shares of Pinnacle West Capital from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Finally, Barclays lifted their price objective on Pinnacle West Capital from $76.00 to $81.00 and gave the company an “overweight” rating in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $74.08.

Pinnacle West Capital Price Performance

Shares of PNW traded up $0.34 during mid-day trading on Friday, reaching $76.82. The company had a trading volume of 430,375 shares, compared to its average volume of 798,781. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $86.03. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.95 and a beta of 0.48. 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 simple moving average is $74.63 and its 200 day simple moving average is $72.41.

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

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Tuesday, April 30th. Pinnacle West Capital’s dividend payout ratio is currently 76.69%.

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.