Toronto Dominion Bank Has $1.39 Million Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Toronto Dominion Bank trimmed its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW – Get Rating) by 24.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,320 shares of the utilities provider’s stock after selling 6,082 shares during the period. Toronto Dominion Bank’s holdings in Pinnacle West Capital were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Addison Advisors LLC increased its position in Pinnacle West Capital by 27.7% in the 4th quarter. Addison Advisors LLC now owns 686 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 149 shares during the last quarter. Horizon Investment Services LLC acquired a new position in Pinnacle West Capital in the 4th quarter worth about $341,000. US Asset Management LLC acquired a new position in Pinnacle West Capital in the 4th quarter worth about $89,000. Fox Run Management L.L.C. acquired a new position in Pinnacle West Capital in the 4th quarter worth about $986,000. Finally, Commonwealth Equity Services LLC increased its position in Pinnacle West Capital by 19.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 32,565 shares of the utilities provider’s stock worth $2,476,000 after purchasing an additional 5,272 shares during the last quarter. 85.21% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $79.85 on Wednesday. The business has a 50 day moving average price of $78.34 and a 200 day moving average price of $75.80. Pinnacle West Capital Co. has a twelve month low of $59.03 and a twelve month high of $81.63. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 3.66 and a beta of 0.46. The company has a quick ratio of 0.74, a current ratio of 1.01 and a debt-to-equity ratio of 1.28.

Pinnacle West Capital (NYSE:PNW – Get Rating) last announced its earnings results on Thursday, May 4th. The utilities provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.06). Pinnacle West Capital had a net margin of 10.33% and a return on equity of 7.50%. The business had revenue of $944.60 million for the quarter, compared to the consensus estimate of $808.33 million. During the same quarter in the previous year, the company earned $0.15 EPS. Pinnacle West Capital’s revenue for the quarter was up 20.6% compared to the same quarter last year. Research analysts predict that Pinnacle West Capital Co. will post 4.04 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 1st will be given a $0.865 dividend. The ex-dividend date of this dividend is Friday, April 28th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.33%. Pinnacle West Capital’s dividend payout ratio is currently 84.60%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley upped their target price on Pinnacle West Capital from $71.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 20th. StockNews.com initiated coverage on Pinnacle West Capital in a report on Thursday, March 16th. They set a “hold” rating on the stock. Bank of America increased their price objective on Pinnacle West Capital from $69.00 to $76.00 in a report on Thursday, April 6th. Credit Suisse Group raised Pinnacle West Capital from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $77.00 to $80.00 in a report on Tuesday, March 14th. Finally, Mizuho lowered their price objective on Pinnacle West Capital from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, March 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.00.

Pinnacle West Capital Company Profile

(Get Rating)

Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985, and is headquartered in Phoenix, AZ.