ERn Financial LLC Acquires 3,257 Shares of Pinnacle West Capital Co. (NYSE:PNW)

ERn Financial LLC boosted its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 25.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,073 shares of the utilities provider’s stock after buying an additional 3,257 shares during the period. ERn Financial LLC’s holdings in Pinnacle West Capital were worth $1,363,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNW. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Pinnacle West Capital by 24.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider’s stock worth $533,562,000 after buying an additional 1,379,368 shares during the last quarter. State Street Corp boosted its stake in Pinnacle West Capital by 0.9% during the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock worth $567,394,000 after acquiring an additional 56,644 shares during the last quarter. Zimmer Partners LP grew its holdings in Pinnacle West Capital by 5.7% during the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after purchasing an additional 155,466 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 valued at $91,078,000 after purchasing an additional 5,066 shares in the last quarter. Finally, Empower Advisory Group LLC raised its holdings in 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 purchasing an additional 18,673 shares during the period. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $84.39 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The stock has a 50 day moving average price of $88.28 and a 200 day moving average price of $86.78. The stock has a market capitalization of $9.60 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $95.42.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 4.24%. Pinnacle West Capital’s dividend payout ratio is presently 67.80%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PNW. Citigroup boosted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group assumed coverage on Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target for the company. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research 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 company an “equal weight” rating in a research report on Thursday, November 7th. Finally, Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.