Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Y.D. More Investments Ltd

Y.D. More Investments Ltd lessened its position in Pinnacle West Capital Co. (NYSE:PNW) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,461 shares of the utilities provider’s stock after selling 194 shares during the period. Y.D. More Investments Ltd’s holdings in Pinnacle West Capital were worth $124,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in shares of Pinnacle West Capital by 221.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock valued at $57,413,000 after purchasing an additional 466,736 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Pinnacle West Capital during the 4th quarter worth about $32,078,000. International Assets Investment Management LLC lifted its stake in shares of Pinnacle West Capital by 152,118.2% in 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 during the period. Yaupon Capital Management LP bought a new position in shares of Pinnacle West Capital in the third quarter valued at approximately $22,173,000. Finally, Zimmer Partners LP increased its stake in shares of Pinnacle West Capital by 5.7% during the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after acquiring an additional 155,466 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Up 1.4 %

NYSE:PNW opened at $88.30 on Thursday. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 3.44 and a beta of 0.57. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The business’s fifty day moving average price is $86.72 and its 200 day moving average price is $87.64.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PNW shares. Citigroup upped their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Jefferies Financial Group dropped their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley reduced their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, Wells Fargo & Company boosted 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 five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $85.21.

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.