Trustmark National Bank Trust Department reduced its position in Pinnacle West Capital Co. (NYSE:PNW) by 18.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,889 shares of the utilities provider’s stock after selling 870 shares during the period. Trustmark National Bank Trust Department’s holdings in Pinnacle West Capital were worth $295,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of PNW. McIlrath & Eck LLC acquired a new position in Pinnacle West Capital in the 4th quarter worth about $29,000. PrairieView Partners LLC acquired a new position in Pinnacle West Capital in the 1st quarter worth about $38,000. Certified Advisory Corp acquired a new position in shares of Pinnacle West Capital during the 1st quarter valued at about $38,000. Arden Trust Co acquired a new position in shares of Pinnacle West Capital during the 1st quarter valued at about $45,000. Finally, CSat Investment Advisory L.P. increased its holdings in shares of Pinnacle West Capital by 33.5% during the 4th quarter. CSat Investment Advisory L.P. now owns 634 shares of the utilities provider’s stock valued at $57,000 after acquiring an additional 159 shares during the last quarter. 84.41% of the stock is currently owned by institutional investors.
PNW traded down $3.26 during midday trading on Thursday, reaching $74.87. The company’s stock had a trading volume of 59,423 shares, compared to its average volume of 1,176,873. The stock has a market cap of $8.93 billion, a P/E ratio of 16.38, a PEG ratio of 3.28 and a beta of 0.37. The company has a fifty day simple moving average of $75.37 and a 200 day simple moving average of $85.09. The company has a current ratio of 0.47, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. Pinnacle West Capital Co. has a twelve month low of $60.05 and a twelve month high of $105.51.
Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.11. Pinnacle West Capital had a return on equity of 9.92% and a net margin of 16.22%. The company had revenue of $661.93 million during the quarter, compared to the consensus estimate of $749.63 million. During the same quarter last year, the company earned $0.16 EPS. The company’s quarterly revenue was down 10.6% on a year-over-year basis. Sell-side analysts expect that Pinnacle West Capital Co. will post 4.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 4th were given a $0.7825 dividend. The ex-dividend date was Friday, May 1st. This represents a $3.13 dividend on an annualized basis and a dividend yield of 4.18%. Pinnacle West Capital’s dividend payout ratio is currently 65.62%.
PNW has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on Pinnacle West Capital from $81.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, May 15th. Barclays reissued a “hold” rating and set a $88.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, April 22nd. KeyCorp initiated coverage on Pinnacle West Capital in a report on Friday, February 28th. They set a “sector weight” rating on the stock. Credit Suisse Group lowered their price objective on Pinnacle West Capital from $88.00 to $84.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Finally, Wells Fargo & Co raised Pinnacle West Capital from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $110.00 to $87.00 in a report on Friday, April 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Pinnacle West Capital has an average rating of “Hold” and an average price target of $90.55.
About Pinnacle West Capital
Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.
Featured Article: Cost of Debt
Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.