MCF Advisors LLC Acquires 4,107 Shares of Pinnacle West Capital Co. (NYSE:PNW)

MCF Advisors LLC boosted its holdings in Pinnacle West Capital Co. (NYSE:PNWFree Report) by 200.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,154 shares of the utilities provider’s stock after buying an additional 4,107 shares during the period. MCF Advisors LLC’s holdings in Pinnacle West Capital were worth $522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HITE Hedge Asset Management LLC boosted its stake in Pinnacle West Capital by 261.2% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock worth $8,178,000 after acquiring an additional 66,755 shares during the last quarter. XTX Topco Ltd acquired a new stake in Pinnacle West Capital in the third quarter worth $2,235,000. Bank of Montreal Can boosted its position in shares of Pinnacle West Capital by 12.6% during the second quarter. Bank of Montreal Can now owns 203,390 shares of the utilities provider’s stock worth $15,559,000 after purchasing an additional 22,696 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of 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 period. Finally, Entropy Technologies LP raised its stake in Pinnacle West Capital by 170.1% during the 3rd quarter. Entropy Technologies LP now owns 30,314 shares of the utilities provider’s stock worth $2,686,000 after buying an additional 19,089 shares during the period. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Price Performance

Shares of PNW opened at $87.97 on Wednesday. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42. The company’s fifty day simple moving average is $88.02 and its 200 day simple moving average is $87.09. 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 company has a market cap of $10.00 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 3.43 and a beta of 0.56.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 4.07%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s payout ratio is 67.80%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Citigroup increased their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Barclays lowered 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 note on Monday, November 18th. Wells Fargo & Company increased their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley cut their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $84.65.

Check Out Our Latest Stock Report on Pinnacle West Capital

Pinnacle West Capital Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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