Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company reduced its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,875 shares of the utilities provider’s stock after selling 600 shares during the period. Romano Brothers AND Company’s holdings in Pinnacle West Capital were worth $2,533,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in shares of Pinnacle West Capital by 124.6% during the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 238 shares during the period. Roble Belko & Company Inc acquired a new position in Pinnacle West Capital during the 4th quarter worth $42,000. Prospera Private Wealth LLC purchased a new stake in Pinnacle West Capital during the 3rd quarter worth about $43,000. Kennebec Savings Bank acquired a new stake in Pinnacle West Capital in the 3rd quarter valued at about $64,000. Finally, Blue Trust Inc. boosted its stake in shares of Pinnacle West Capital by 193.5% in the 3rd quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider’s stock valued at $96,000 after buying an additional 712 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on PNW shares. 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 note on Wednesday, December 4th. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Citigroup lifted their price objective 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. Wells Fargo & Company increased their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Finally, Morgan Stanley cut their price target on 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. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.65.

Pinnacle West Capital Stock Up 0.4 %

Pinnacle West Capital stock opened at $86.75 on Friday. The stock has a 50-day simple moving average of $88.12 and a 200-day simple moving average of $86.93. The company has a market capitalization of $9.86 billion, a P/E ratio of 16.43, a PEG ratio of 3.24 and a beta of 0.56. 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 fifty-two week low of $65.20 and a fifty-two week high of $95.42.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be issued 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 payout ratio is currently 67.80%.

About Pinnacle West Capital

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.