Birmingham Capital Management Co. Inc. AL Has $434,000 Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Birmingham Capital Management Co. Inc. AL reduced its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,475 shares of the utilities provider’s stock after selling 600 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Pinnacle West Capital were worth $434,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Headlands Technologies LLC bought a new stake in Pinnacle West Capital in the first quarter valued at $26,000. Jones Financial Companies Lllp bought a new stake in Pinnacle West Capital in the 1st quarter valued at about $28,000. Dark Forest Capital Management LP acquired a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of Pinnacle West Capital by 128.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 411 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 231 shares in the last quarter. Finally, Pacific Center for Financial Services acquired a new position in shares of Pinnacle West Capital during the first quarter worth approximately $40,000. 84.95% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $76.48 on Wednesday. The stock has a 50 day moving average of $79.84 and a 200 day moving average of $79.26. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 2.79 and a beta of 0.48. Pinnacle West Capital Co. has a 12 month low of $59.03 and a 12 month high of $86.03. The company has a current ratio of 0.96, a quick ratio of 0.70 and a debt-to-equity ratio of 1.34.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.25). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Pinnacle West Capital had a net margin of 8.92% and a return on equity of 6.55%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 earnings per share. As a group, sell-side analysts forecast that Pinnacle West Capital Co. will post 4.21 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st were given a dividend of $0.865 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date was Monday, July 31st. Pinnacle West Capital’s dividend payout ratio is currently 96.65%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PNW shares. Wells Fargo & Company decreased 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 research note on Friday, August 4th. StockNews.com began coverage on shares of Pinnacle West Capital in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. Mizuho upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and lifted their price target for the company from $78.00 to $85.00 in a research note on Tuesday, August 22nd. Morgan Stanley lowered their price objective on Pinnacle West Capital from $78.00 to $73.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 23rd. Finally, Bank of America cut their target price on Pinnacle West Capital from $80.00 to $78.00 in a research report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.