Larson Financial Group LLC Buys 1,541 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Larson Financial Group LLC boosted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 149.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,571 shares of the utilities provider’s stock after purchasing an additional 1,541 shares during the quarter. Larson Financial Group LLC’s holdings in Pinnacle West Capital were worth $192,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PNW. MCF Advisors LLC boosted its position in shares of Pinnacle West Capital by 9.2% in the fourth quarter. MCF Advisors LLC now owns 2,070 shares of the utilities provider’s stock valued at $149,000 after acquiring an additional 174 shares during the period. Newbridge Financial Services Group Inc. boosted its position in shares of Pinnacle West Capital by 70.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 199 shares during the period. Atria Wealth Solutions Inc. boosted its position in shares of Pinnacle West Capital by 4.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 4,921 shares of the utilities provider’s stock valued at $354,000 after acquiring an additional 229 shares during the period. Prime Capital Investment Advisors LLC boosted its position in shares of Pinnacle West Capital by 6.1% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 4,083 shares of the utilities provider’s stock valued at $293,000 after acquiring an additional 233 shares during the period. Finally, Baker Ellis Asset Management LLC boosted its position in shares of Pinnacle West Capital by 0.5% in the fourth quarter. Baker Ellis Asset Management LLC now owns 52,669 shares of the utilities provider’s stock valued at $3,784,000 after acquiring an additional 274 shares during the period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 1.3 %

Pinnacle West Capital stock traded up $1.01 during mid-day trading on Wednesday, hitting $78.46. The stock had a trading volume of 1,183,236 shares, compared to its average volume of 1,197,757. The stock has a 50-day simple moving average of $76.47 and a two-hundred day simple moving average of $73.07. The stock has a market capitalization of $8.91 billion, a PE ratio of 16.92, a P/E/G ratio of 1.95 and a beta of 0.51. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $86.03. The company has a current ratio of 0.58, a quick ratio of 0.42 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last issued its 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. Pinnacle West Capital had a return on equity of 8.29% and a net margin of 11.09%. The firm had revenue of $951.71 million for the quarter, compared to analysts’ expectations of $981.82 million. During the same quarter last year, the business earned ($0.03) earnings per share. The company’s revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts forecast that Pinnacle West Capital Co. will post 4.76 EPS for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Thursday, August 1st. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 76.69%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. StockNews.com cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Tuesday. Bank of America upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $71.00 to $80.00 in a research note on Monday, March 18th. Citigroup initiated coverage on Pinnacle West Capital in a research note on Monday, April 29th. They set a “neutral” rating and a $78.00 price objective for the company. Morgan Stanley dropped their price objective on Pinnacle West Capital from $76.00 to $72.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Finally, Barclays dropped their price objective on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. One investment 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.46.

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.