Stephens Inc. AR Has $376,000 Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Stephens Inc. AR trimmed its position in Pinnacle West Capital Co. (NYSE:PNW) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,434 shares of the utilities provider’s stock after selling 132 shares during the quarter. Stephens Inc. AR’s holdings in Pinnacle West Capital were worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Pinnacle West Capital by 0.9% in the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock valued at $567,394,000 after buying an additional 56,644 shares in the last quarter. Zimmer Partners LP grew its holdings in shares of Pinnacle West Capital by 5.7% during the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after purchasing an additional 155,466 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Pinnacle West Capital by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock worth $91,078,000 after purchasing an additional 5,066 shares in the last quarter. Empower Advisory Group LLC grew its holdings in shares of Pinnacle West Capital by 2.0% during the 3rd quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider’s stock worth $86,230,000 after purchasing an additional 18,673 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Pinnacle West Capital by 1.6% during the 3rd quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider’s stock worth $64,851,000 after purchasing an additional 11,208 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $89.37 on Friday. 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 company has a market capitalization of $10.16 billion, a PE ratio of 16.93, a P/E/G 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. The stock has a 50-day moving average price of $86.14 and a two-hundred day moving average price of $87.86.

Pinnacle West Capital Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PNW. Jefferies Financial Group reduced their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Citigroup increased their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Morgan Stanley dropped their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Wells Fargo & Company upped their price objective on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Finally, Barclays downgraded 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 report on Monday, November 18th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.