Allworth Financial LP Has $74,000 Stock Holdings in Pinnacle West Capital Corporation (NYSE:PNW)

Allworth Financial LP raised its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 19.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 780 shares of the utilities provider’s stock after purchasing an additional 125 shares during the quarter. Allworth Financial LP’s holdings in Pinnacle West Capital were worth $74,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in Pinnacle West Capital by 1.2% during the first quarter. Nisa Investment Advisors LLC now owns 37,190 shares of the utilities provider’s stock valued at $3,542,000 after purchasing an additional 450 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Pinnacle West Capital by 26.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 5,546 shares of the utilities provider’s stock valued at $528,000 after purchasing an additional 1,150 shares in the last quarter. NTV Asset Management LLC bought a new stake in Pinnacle West Capital during the 1st quarter worth $209,000. TD Private Client Wealth LLC bought a new stake in Pinnacle West Capital during the 1st quarter worth approximately $253,000. Finally, Penserra Capital Management LLC raised its position in shares of Pinnacle West Capital by 3,114.5% during the first quarter. Penserra Capital Management LLC now owns 9,290 shares of the utilities provider’s stock worth $884,000 after acquiring an additional 9,001 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 0.7%

PNW stock opened at $91.54 on Friday. The company has a fifty day moving average of $90.14 and a 200-day moving average of $90.26. The stock has a market capitalization of $10.93 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 9.46 and a beta of 0.42. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.34 and a current ratio of 0.50. Pinnacle West Capital Corporation has a one year low of $81.27 and a one year high of $96.50.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). Pinnacle West Capital had a return on equity of 8.78% and a net margin of 11.28%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $988.95 million. During the same quarter last year, the business earned $0.15 EPS. Pinnacle West Capital’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, analysts expect that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 1st will be paid a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Friday, August 1st. Pinnacle West Capital’s payout ratio is 71.17%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PNW. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “hold” rating in a research note on Friday, May 9th. Wall Street Zen lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. UBS Group reissued a “neutral” rating and issued a $98.00 target price (up from $96.00) on shares of Pinnacle West Capital in a research note on Friday, July 11th. Barclays raised their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company increased their target price on Pinnacle West Capital from $95.00 to $98.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.78.

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.