Empowered Funds LLC Makes New Investment in Pinnacle West Capital Co. (NYSE:PNW)

Empowered Funds LLC acquired a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,077 shares of the utilities provider’s stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Apollon Wealth Management LLC raised its stake in Pinnacle West Capital by 3.3% during the 4th quarter. Apollon Wealth Management LLC now owns 8,085 shares of the utilities provider’s stock worth $685,000 after acquiring an additional 259 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Pinnacle West Capital by 2.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,412 shares of the utilities provider’s stock valued at $1,391,000 after buying an additional 327 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Pinnacle West Capital by 14.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider’s stock valued at $363,000 after buying an additional 545 shares during the period. YANKCOM Partnership acquired a new stake in shares of Pinnacle West Capital in the 4th quarter worth $29,000. Finally, NovaPoint Capital LLC lifted its stake in shares of Pinnacle West Capital by 5.0% in the 4th quarter. NovaPoint Capital LLC now owns 9,609 shares of the utilities provider’s stock worth $815,000 after acquiring an additional 457 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $90.79 on Friday. Pinnacle West Capital Co. has a 1 year low of $66.77 and a 1 year high of $95.42. The company’s 50 day simple moving average is $86.18 and its 200 day simple moving average is $87.94. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.56 and a beta of 0.57. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given 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 yield of 3.94%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Analysts Set New Price Targets

PNW has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Citigroup increased their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley decreased their target price on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $85.21.

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.