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

ERn Financial LLC lifted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 25.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,073 shares of the utilities provider’s stock after acquiring an additional 3,257 shares during the quarter. 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 institutional investors have also made changes to their positions in PNW. HITE Hedge Asset Management LLC boosted its position in Pinnacle West Capital by 261.2% during the third quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock worth $8,178,000 after purchasing an additional 66,755 shares during the period. XTX Topco Ltd acquired a new stake in shares of Pinnacle West Capital during the 3rd quarter worth about $2,235,000. Bank of Montreal Can boosted its holdings in shares of 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 during the period. Principal Financial Group Inc. grew its stake in Pinnacle West Capital by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock valued at $12,336,000 after buying an additional 9,993 shares during the last quarter. Finally, Entropy Technologies LP raised its holdings in Pinnacle West Capital by 170.1% in the 3rd quarter. Entropy Technologies LP now owns 30,314 shares of the utilities provider’s stock valued at $2,686,000 after acquiring an additional 19,089 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Up 1.4 %

PNW stock opened at $84.39 on Thursday. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $95.42. The business has a 50-day simple moving average of $88.28 and a 200 day simple moving average of $86.78. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company has a market cap 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 Announces Dividend

The company also recently announced 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 4.24%. The ex-dividend date is Monday, February 3rd. 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. Citigroup boosted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Morgan Stanley decreased their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group began coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They issued a “buy” rating and a $104.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Pinnacle West Capital has an average rating of “Hold” and a consensus target price of $84.65.

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.