Oppenheimer & Co. Inc. Has $443,000 Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Oppenheimer & Co. Inc. lowered its stake in Pinnacle West Capital Co. (NYSE:PNW) by 2.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,586 shares of the utilities provider’s stock after selling 147 shares during the period. Oppenheimer & Co. Inc.’s holdings in Pinnacle West Capital were worth $443,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. LPL Financial LLC grew its stake in Pinnacle West Capital by 0.3% in the 1st quarter. LPL Financial LLC now owns 40,520 shares of the utilities provider’s stock valued at $3,211,000 after buying an additional 132 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of Pinnacle West Capital by 1.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 13,918 shares of the utilities provider’s stock worth $1,103,000 after purchasing an additional 133 shares in the last quarter. Eaton Vance Management grew its position in shares of Pinnacle West Capital by 1.9% during the 1st quarter. Eaton Vance Management now owns 7,921 shares of the utilities provider’s stock worth $619,000 after purchasing an additional 146 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Pinnacle West Capital by 18.6% during the 4th quarter. Quadrant Capital Group LLC now owns 939 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 147 shares in the last quarter. Finally, Addison Advisors LLC grew its position in shares of Pinnacle West Capital by 27.7% during 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 in the last quarter. Institutional investors and hedge funds own 84.95% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $78.77 on Wednesday. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.91 and a beta of 0.47. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $80.93 and a 200 day simple moving average of $79.12. Pinnacle West Capital Co. has a one year low of $59.03 and a one year high of $86.03.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.94 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.25). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. Pinnacle West Capital had a net margin of 8.92% and a return on equity of 6.55%. Pinnacle West Capital’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 EPS. Research analysts predict that Pinnacle West Capital Co. will post 4.21 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 1st will be paid a $0.865 dividend. This represents a $3.46 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Monday, July 31st. Pinnacle West Capital’s payout ratio is 96.65%.

Analysts Set New Price Targets

PNW has been the topic of a number of analyst reports. Morgan Stanley decreased their target price on shares of Pinnacle West Capital from $78.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 23rd. Mizuho upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and increased their target price for the stock from $78.00 to $85.00 in a research report on Tuesday, August 22nd. StockNews.com initiated coverage on shares of Pinnacle West Capital in a report on Thursday, August 17th. They set a “sell” rating for the company. Wells Fargo & Company cut their price target on shares of Pinnacle West Capital from $89.00 to $88.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. Finally, KeyCorp upped their price target on shares of Pinnacle West Capital from $55.00 to $61.00 in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Pinnacle West Capital has a consensus rating of “Hold” and a consensus target price of $77.90.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, 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.