Capital Investment Advisors LLC Reduces Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Capital Investment Advisors LLC decreased its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,187 shares of the utilities provider’s stock after selling 252 shares during the period. Capital Investment Advisors LLC owned about 0.06% of Pinnacle West Capital worth $5,441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in shares of Pinnacle West Capital by 124.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 238 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Pinnacle West Capital in the 3rd quarter worth about $43,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Pinnacle West Capital in the 2nd quarter worth about $52,000. Kennebec Savings Bank bought a new stake in shares of Pinnacle West Capital in the 3rd quarter worth about $64,000. Finally, Blue Trust Inc. increased its position in shares of Pinnacle West Capital by 193.5% in the 3rd quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 712 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 1.0 %

Shares of Pinnacle West Capital stock opened at $82.58 on Tuesday. The stock has a market capitalization of $9.39 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56. 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 company has a 50-day simple moving average of $88.46 and a 200 day simple moving average of $86.75. Pinnacle West Capital Co. has a 12-month low of $65.20 and a 12-month high of $95.42.

Pinnacle West Capital Dividend Announcement

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 issued a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

Wall Street Analysts Forecast Growth

PNW has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Citigroup boosted their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $93.00 to $91.00 in a research note on Monday, November 18th. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They set a “buy” rating and a $104.00 target price for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $84.65.

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.