Pinnacle West Capital Co. (NYSE:PNW) Shares Acquired by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund grew its stake in Pinnacle West Capital Co. (NYSE:PNW) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,897 shares of the utilities provider’s stock after buying an additional 535 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Pinnacle West Capital were worth $330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $29,000. Venturi Wealth Management LLC lifted its holdings in shares of Pinnacle West Capital by 124.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after buying an additional 238 shares during the period. Brown Lisle Cummings Inc. acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $38,000. Roble Belko & Company Inc acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $42,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Pinnacle West Capital in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW stock opened at $90.50 on Thursday. 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 business has a 50 day simple moving average of $86.14 and a 200-day simple moving average of $87.92. The firm has a market capitalization of $10.29 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. Pinnacle West Capital Co. has a 1 year low of $66.77 and a 1 year high of $95.42.

Pinnacle West Capital Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.96%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Analysts Set New Price Targets

PNW has been the subject of a number of analyst reports. Citigroup upped 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. Morgan Stanley reduced their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. 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 report on Wednesday, December 4th. Wells Fargo & Company upped their price target 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 reduced their price target 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. Eight 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 stock has an average rating of “Hold” and a consensus target price 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.