Brown Lisle Cummings Inc. Takes Position in Pinnacle West Capital Co. (NYSE:PNW)

Brown Lisle Cummings Inc. purchased a new position in Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 450 shares of the utilities provider’s stock, valued at approximately $38,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNW. State Street Corp increased its stake in Pinnacle West Capital by 0.9% in the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock worth $567,394,000 after acquiring an additional 56,644 shares during the last quarter. Zimmer Partners LP increased its position in shares of Pinnacle West Capital by 5.7% in the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after purchasing an additional 155,466 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pinnacle West Capital by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock worth $91,078,000 after purchasing an additional 5,066 shares during the last quarter. Empower Advisory Group LLC raised its stake in Pinnacle West Capital by 2.0% in the third quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider’s stock valued at $86,230,000 after purchasing an additional 18,673 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in Pinnacle West Capital by 1.6% during the third quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider’s stock valued at $64,851,000 after purchasing an additional 11,208 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

PNW has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research note on Wednesday, December 4th. Jefferies Financial Group cut their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Morgan Stanley cut their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.21.

Pinnacle West Capital Trading Up 0.3 %

NYSE:PNW opened at $87.10 on Wednesday. The firm has a market capitalization of $9.90 billion, a P/E ratio of 16.50, a P/E/G ratio of 3.44 and a beta of 0.57. 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 fifty day moving average of $86.84 and a 200 day moving average of $87.64. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $95.42.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 4.11%. Pinnacle West Capital’s payout ratio is presently 67.80%.

Pinnacle West Capital 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.