Entropy Technologies LP Has $2.69 Million Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Entropy Technologies LP raised its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 170.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,314 shares of the utilities provider’s stock after buying an additional 19,089 shares during the period. Entropy Technologies LP’s holdings in Pinnacle West Capital were worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in Pinnacle West Capital during the 1st quarter valued at $898,000. Natixis acquired a new stake in shares of Pinnacle West Capital in the first quarter valued at $4,064,000. Sei Investments Co. raised its holdings in shares of Pinnacle West Capital by 15.6% in the first quarter. Sei Investments Co. now owns 228,555 shares of the utilities provider’s stock valued at $17,080,000 after buying an additional 30,924 shares during the last quarter. Bank of Montreal Can lifted its position in Pinnacle West Capital by 12.6% during the 2nd quarter. Bank of Montreal Can now owns 203,390 shares of the utilities provider’s stock worth $15,559,000 after buying an additional 22,696 shares in the last quarter. Finally, Bayesian Capital Management LP grew its holdings in Pinnacle West Capital by 244.6% during the 1st quarter. Bayesian Capital Management LP now owns 22,399 shares of the utilities provider’s stock worth $1,674,000 after acquiring an additional 15,899 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.1 %

NYSE PNW opened at $91.91 on Tuesday. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $93.12. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.48. The firm has a market cap of $10.45 billion, a P/E ratio of 17.41, a P/E/G ratio of 2.15 and a beta of 0.52. The stock’s 50-day moving average is $88.43 and its 200-day moving average is $82.84.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a $0.895 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.58 dividend on an annualized basis and a yield of 3.90%. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.88. Pinnacle West Capital’s payout ratio is presently 67.80%.

Analyst Upgrades and Downgrades

PNW has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price objective for the company. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company boosted their target price 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. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.96.

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.