Pinnacle West Capital Co. (NYSE:PNW) Position Increased by Natixis Advisors LLC

Natixis Advisors LLC raised its position in Pinnacle West Capital Co. (NYSE:PNW) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,221 shares of the utilities provider’s stock after purchasing an additional 342 shares during the quarter. Natixis Advisors LLC’s holdings in Pinnacle West Capital were worth $2,057,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can grew its stake in shares of Pinnacle West Capital by 12.6% in the 2nd quarter. Bank of Montreal Can now owns 203,390 shares of the utilities provider’s stock valued at $15,559,000 after buying an additional 22,696 shares in the last quarter. Entropy Technologies LP grew its position in Pinnacle West Capital by 170.1% in the third quarter. Entropy Technologies LP now owns 30,314 shares of the utilities provider’s stock worth $2,686,000 after acquiring an additional 19,089 shares in the last quarter. Bayesian Capital Management LP increased its stake in shares of Pinnacle West Capital by 244.6% during the 1st quarter. Bayesian Capital Management LP now owns 22,399 shares of the utilities provider’s stock worth $1,674,000 after purchasing an additional 15,899 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Pinnacle West Capital by 101.3% during the 2nd quarter. Fifth Third Bancorp now owns 5,837 shares of the utilities provider’s stock valued at $446,000 after purchasing an additional 2,937 shares in the last quarter. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Pinnacle West Capital in the 2nd quarter valued at $712,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group began coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 target price on the stock. Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Wells Fargo & Company boosted their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Morgan Stanley lowered their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pinnacle West Capital currently has a consensus rating of “Hold” and an average target price of $81.88.

Pinnacle West Capital Stock Performance

NYSE:PNW opened at $92.93 on Monday. The firm’s 50-day moving average is $89.01 and its 200-day moving average is $83.96. The company has a market cap of $10.57 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.19 and a beta of 0.52. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $94.38.

Pinnacle West Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued a $0.895 dividend. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, November 4th. This represents a $3.58 annualized dividend and a yield of 3.85%. Pinnacle West Capital’s dividend payout ratio is 67.80%.

Pinnacle West Capital Company Profile

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.