Yousif Capital Management LLC Has $2.37 Million Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Yousif Capital Management LLC boosted its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,904 shares of the utilities provider’s stock after purchasing an additional 692 shares during the period. Yousif Capital Management LLC’s holdings in Pinnacle West Capital were worth $2,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Pinnacle West Capital in the fourth quarter valued at approximately $194,655,000. Invesco Ltd. raised its position in Pinnacle West Capital by 32.2% in the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider’s stock valued at $364,342,000 after purchasing an additional 1,045,788 shares during the last quarter. Merewether Investment Management LP bought a new position in Pinnacle West Capital in the 4th quarter valued at $69,233,000. Two Sigma Advisers LP boosted its stake in Pinnacle West Capital by 462.8% in the fourth quarter. Two Sigma Advisers LP now owns 912,900 shares of the utilities provider’s stock worth $77,387,000 after purchasing an additional 750,700 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Pinnacle West Capital by 33.4% during the fourth quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider’s stock worth $206,420,000 after purchasing an additional 610,042 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Down 0.9%

Shares of NYSE PNW opened at $89.85 on Friday. Pinnacle West Capital Co. has a fifty-two week low of $74.45 and a fifty-two week high of $96.50. The firm has a market capitalization of $10.73 billion, a P/E ratio of 17.02, a P/E/G ratio of 3.59 and a beta of 0.43. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The company’s 50 day simple moving average is $91.81 and its 200 day simple moving average is $90.02.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The business’s revenue was up 8.5% on a year-over-year basis. On average, analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 5th were given a dividend of $0.895 per share. The ex-dividend date was Monday, May 5th. This represents a $3.58 annualized dividend and a dividend yield of 3.98%. Pinnacle West Capital’s payout ratio is currently 71.17%.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of research analyst reports. Barclays lifted their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a report on Tuesday, April 1st. Morgan Stanley reduced their target price on shares of Pinnacle West Capital from $88.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 22nd. UBS Group increased their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Guggenheim reissued a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Finally, Wall Street Zen downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $97.00.

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.