Butensky & Cohen Financial Security Inc. Purchases 969 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Butensky & Cohen Financial Security Inc. boosted its position in Pinnacle West Capital Co. (NYSE:PNW) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,480 shares of the utilities provider’s stock after purchasing an additional 969 shares during the quarter. Pinnacle West Capital comprises about 1.6% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 19th biggest holding. Butensky & Cohen Financial Security Inc. owned approximately 0.05% of Pinnacle West Capital worth $5,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its position 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 purchasing an additional 1,379,368 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Pinnacle West Capital by 221.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock worth $57,413,000 after acquiring an additional 466,736 shares during the period. International Assets Investment Management LLC boosted its position in shares of Pinnacle West Capital by 152,118.2% during the 3rd quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock worth $22,925,000 after acquiring an additional 258,601 shares in the last quarter. Yaupon Capital Management LP bought a new position in Pinnacle West Capital in the third quarter valued at approximately $22,173,000. Finally, Dimensional Fund Advisors LP raised its position in Pinnacle West Capital by 31.2% during the second quarter. Dimensional Fund Advisors LP now owns 845,137 shares of the utilities provider’s stock valued at $64,550,000 after purchasing an additional 200,816 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Up 0.4 %

Pinnacle West Capital stock opened at $86.75 on Friday. The firm has a 50 day moving average price of $88.12 and a two-hundred day moving average price of $86.85. 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 52-week low of $65.20 and a 52-week high of $95.42. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 3.24 and a beta of 0.56.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be given a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PNW. Wells Fargo & Company lifted their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Citigroup boosted their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Morgan Stanley reduced their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, 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 research report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Pinnacle West Capital presently has an average rating of “Hold” and a consensus price target 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.