4,830 Shares in Pinnacle West Capital Co. (NYSE:PNW) Acquired by R Squared Ltd

R Squared Ltd purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the fourth quarter, Holdings Channel reports. The fund purchased 4,830 shares of the utilities provider’s stock, valued at approximately $409,000.

A number of other institutional investors have also modified their holdings of PNW. Venturi Wealth Management LLC increased its stake in Pinnacle West Capital by 124.6% during the third 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 period. Roble Belko & Company Inc purchased a new stake in Pinnacle West Capital during the 4th quarter worth approximately $42,000. Prospera Private Wealth LLC acquired a new stake in Pinnacle West Capital during the 3rd quarter worth approximately $43,000. Kennebec Savings Bank purchased a new position in Pinnacle West Capital in the 3rd quarter valued at approximately $64,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Pinnacle West Capital by 27.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 899 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 192 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $86.62 on Wednesday. The stock’s 50-day moving average is $87.46 and its two-hundred day moving average is $87.45. 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 Co. has a 1 year low of $65.20 and a 1 year high of $95.42. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 3.40 and a beta of 0.56.

Pinnacle West Capital Announces Dividend

The company also recently declared 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. This represents a $3.58 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.80%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PNW. Citigroup lifted their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted 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. 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 research note on Wednesday, December 4th. Morgan Stanley dropped their price objective 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, Jefferies Financial Group decreased their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.