Pinnacle West Capital Co. (NYSE:PNW) Position Increased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its stake in Pinnacle West Capital Co. (NYSE:PNW) by 22.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,213 shares of the utilities provider’s stock after buying an additional 597 shares during the period. Park Avenue Securities LLC’s holdings in Pinnacle West Capital were worth $272,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Pinnacle West Capital by 221.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock valued at $57,413,000 after purchasing an additional 466,736 shares during the last quarter. Czech National Bank raised its holdings in Pinnacle West Capital by 6.6% during the 4th quarter. Czech National Bank now owns 24,656 shares of the utilities provider’s stock worth $2,090,000 after buying an additional 1,523 shares during the period. ST Germain D J Co. Inc. lifted its stake in Pinnacle West Capital by 19.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,145 shares of the utilities provider’s stock valued at $97,000 after buying an additional 183 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Pinnacle West Capital by 140.7% in the fourth quarter. Fortitude Family Office LLC now owns 2,946 shares of the utilities provider’s stock worth $250,000 after buying an additional 1,722 shares during the period. Finally, Fortem Financial Group LLC boosted its holdings in shares of Pinnacle West Capital by 2.2% in the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after buying an additional 124 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.5 %

NYSE:PNW opened at $85.80 on Friday. The company has a market capitalization of $9.76 billion, a P/E ratio of 16.25, a P/E/G ratio of 3.40 and a beta of 0.56. The stock’s 50 day moving average price is $87.63 and its 200 day moving average price is $87.29. 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 $95.42.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 4.17%. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PNW shares. Citigroup upped their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $93.00 to $91.00 in a report on Monday, November 18th. 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, November 22nd. Wells Fargo & Company increased their price objective on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Finally, KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.21.

Pinnacle West Capital 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.