Louisiana State Employees Retirement System Has $517,000 Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Louisiana State Employees Retirement System lessened its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,100 shares of the utilities provider’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Pinnacle West Capital were worth $517,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Fortem Financial Group LLC lifted its stake in shares of Pinnacle West Capital by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after acquiring an additional 124 shares during the period. Glenmede Trust Co. NA increased its holdings in Pinnacle West Capital by 2.5% in the third quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock valued at $593,000 after purchasing an additional 163 shares during the last quarter. LRI Investments LLC increased its holdings in Pinnacle West Capital by 7.0% in the third quarter. LRI Investments LLC now owns 2,498 shares of the utilities provider’s stock valued at $227,000 after purchasing an additional 163 shares during the last quarter. Caprock Group LLC increased its holdings in Pinnacle West Capital by 3.1% in the fourth quarter. Caprock Group LLC now owns 5,511 shares of the utilities provider’s stock valued at $467,000 after purchasing an additional 164 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Pinnacle West Capital by 2.8% in the fourth quarter. Fifth Third Bancorp now owns 6,100 shares of the utilities provider’s stock valued at $517,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 0.7 %

NYSE:PNW opened at $89.90 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The company has a market cap of $10.22 billion, a PE ratio of 17.03, a PEG ratio of 3.47 and a beta of 0.57. Pinnacle West Capital Co. has a 52-week low of $66.77 and a 52-week high of $95.42. The stock has a 50-day simple moving average of $86.12 and a 200 day simple moving average of $87.89.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a dividend of $0.895 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.98%. Pinnacle West Capital’s payout ratio is presently 67.80%.

Analyst Upgrades and Downgrades

PNW has been the subject of a number of recent analyst reports. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a report on Wednesday, December 4th. Jefferies Financial Group dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Citigroup upped their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Wells Fargo & Company upped their price objective on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $85.21.

About Pinnacle West Capital

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.