MADDEN SECURITIES Corp Decreases Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

MADDEN SECURITIES Corp reduced its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,860 shares of the utilities provider’s stock after selling 875 shares during the quarter. MADDEN SECURITIES Corp’s holdings in Pinnacle West Capital were worth $1,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC purchased a new position in shares of Pinnacle West Capital in the 4th quarter worth about $346,000. Apollon Wealth Management LLC raised its position in Pinnacle West Capital by 3.3% in the fourth 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 during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Pinnacle West Capital by 2.0% in the fourth 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 acquiring an additional 327 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Pinnacle West Capital by 14.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider’s stock valued at $363,000 after acquiring an additional 545 shares during the period. Finally, YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $87.74 on Tuesday. Pinnacle West Capital Co. has a 12 month low of $66.26 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 market cap of $9.98 billion, a P/E ratio of 16.62, a P/E/G ratio of 3.47 and a beta of 0.57. The company has a 50 day moving average of $86.44 and a 200 day moving average of $87.74.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.08%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Analyst Ratings Changes

PNW has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company upped their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Morgan Stanley decreased their price objective on 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. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Finally, Citigroup increased their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.