Atria Wealth Solutions Inc. Trims Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Atria Wealth Solutions Inc. decreased its stake in Pinnacle West Capital Co. (NYSE:PNW) by 25.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,452 shares of the utilities provider’s stock after selling 1,180 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Pinnacle West Capital were worth $293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp increased its position in Pinnacle West Capital by 0.9% in the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock worth $567,394,000 after buying an additional 56,644 shares in the last quarter. Zimmer Partners LP increased its position in Pinnacle West Capital by 5.7% in the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after buying an additional 155,466 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Pinnacle West Capital by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock worth $91,078,000 after buying an additional 5,066 shares in the last quarter. Empower Advisory Group LLC boosted its stake in shares of Pinnacle West Capital by 2.0% in the third quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider’s stock worth $86,230,000 after acquiring an additional 18,673 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of Pinnacle West Capital by 1.6% in the third quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider’s stock worth $64,851,000 after acquiring an additional 11,208 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $92.53 on Friday. Pinnacle West Capital Co. has a 12 month low of $67.51 and a 12 month high of $95.42. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average of $86.80 and a 200 day moving average of $88.16. The firm has a market cap of $10.52 billion, a PE ratio of 17.53, a PEG ratio of 3.59 and a beta of 0.57.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 dividend on an annualized basis and a yield of 3.87%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PNW. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday. 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 research note on Monday, November 18th. 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 research note on Tuesday, January 28th. Wells Fargo & Company upped their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.58.

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.