Capital Investment Advisors LLC Sells 252 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Capital Investment Advisors LLC lessened its holdings in 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. The fund owned 64,187 shares of the utilities provider’s stock after selling 252 shares during the quarter. Capital Investment Advisors LLC’s holdings in Pinnacle West Capital were worth $5,441,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PNW. Czech National Bank raised its position in shares of Pinnacle West Capital by 6.6% in the 4th quarter. Czech National Bank now owns 24,656 shares of the utilities provider’s stock valued at $2,090,000 after acquiring an additional 1,523 shares during the period. ST Germain D J Co. Inc. raised its position in shares of Pinnacle West Capital by 19.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,145 shares of the utilities provider’s stock valued at $97,000 after acquiring an additional 183 shares during the period. Fortitude Family Office LLC raised its position in shares of Pinnacle West Capital by 140.7% in the 4th quarter. Fortitude Family Office LLC now owns 2,946 shares of the utilities provider’s stock valued at $250,000 after acquiring an additional 1,722 shares during the period. Fortem Financial Group LLC raised its position in shares of Pinnacle West Capital by 2.2% in the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after acquiring an additional 124 shares during the period. Finally, CWA Asset Management Group LLC raised its position in shares of Pinnacle West Capital by 17.3% in the 4th quarter. CWA Asset Management Group LLC now owns 15,467 shares of the utilities provider’s stock valued at $1,311,000 after acquiring an additional 2,284 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PNW shares. 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 target on the stock. Barclays downgraded 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 report on Monday, November 18th. Citigroup increased their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.65.

Pinnacle West Capital Stock Up 1.0 %

Shares of NYSE PNW opened at $82.58 on Tuesday. The company has a 50 day simple moving average of $88.46 and a 200 day simple moving average of $86.75. The firm has a market cap of $9.39 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $95.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

Pinnacle West Capital Dividend Announcement

The company also recently announced 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 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 presently 67.80%.

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.