Pinnacle West Capital Co. (NYSE:PNW) Stock Holdings Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Pinnacle West Capital Co. (NYSE:PNW) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,284 shares of the utilities provider’s stock after purchasing an additional 545 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Pinnacle West Capital were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PNW. CWM LLC grew its stake in Pinnacle West Capital by 3.2% in the third quarter. CWM LLC now owns 9,714 shares of the utilities provider’s stock valued at $861,000 after purchasing an additional 303 shares in the last quarter. Creative Planning grew its stake in Pinnacle West Capital by 9.7% in the third quarter. Creative Planning now owns 25,716 shares of the utilities provider’s stock valued at $2,278,000 after purchasing an additional 2,272 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Pinnacle West Capital by 3.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,085 shares of the utilities provider’s stock valued at $1,425,000 after purchasing an additional 596 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Pinnacle West Capital by 193.5% during the 3rd quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 712 shares in the last quarter. Finally, NovaPoint Capital LLC boosted its stake in shares of Pinnacle West Capital by 6.2% during the 3rd quarter. NovaPoint Capital LLC now owns 9,152 shares of the utilities provider’s stock worth $811,000 after acquiring an additional 531 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.0 %

Pinnacle West Capital stock opened at $89.37 on Friday. The business has a 50 day moving average price of $86.14 and a two-hundred day moving average price of $87.86. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. Pinnacle West Capital Co. has a 12 month low of $66.77 and a 12 month high of $95.42.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be issued a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 annualized dividend and a yield of 4.01%. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.80%.

Analysts Set New Price Targets

PNW has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group decreased their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Citigroup upped their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target 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, Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.