850 Shares in Pinnacle West Capital Co. (NYSE:PNW) Acquired by Asset Planning Inc

Asset Planning Inc bought a new position in Pinnacle West Capital Co. (NYSE:PNW) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 850 shares of the utilities provider’s stock, valued at approximately $72,000.

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

Pinnacle West Capital Stock Up 0.4 %

Shares of PNW stock opened at $89.38 on Friday. Pinnacle West Capital Co. has a one year low of $66.64 and a one year high of $95.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The stock has a fifty day moving average price of $86.24 and a 200 day moving average price of $87.81. The stock has a market cap of $10.16 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57.

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 dividend on an annualized basis and a yield of 4.01%. Pinnacle West Capital’s payout ratio is currently 67.80%.

Analyst Ratings Changes

Several brokerages have commented on PNW. Citigroup increased their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. KeyCorp raised shares of 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 report on Wednesday, December 4th. Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, Jefferies Financial Group lowered their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and five have issued 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 price target of $85.21.

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.