GPS Wealth Strategies Group LLC Decreases Holdings in Pinnacle West Capital Co. (NYSE:PNW)

GPS Wealth Strategies Group LLC lowered its stake in Pinnacle West Capital Co. (NYSE:PNW) by 53.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,071 shares of the utilities provider’s stock after selling 3,470 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Pinnacle West Capital were worth $260,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Caprock Group LLC boosted its holdings in shares of Pinnacle West Capital by 3.1% in the 4th quarter. Caprock Group LLC now owns 5,511 shares of the utilities provider’s stock worth $467,000 after purchasing an additional 164 shares during the period. Sonora Investment Management Group LLC lifted its position in Pinnacle West Capital by 17.5% in the fourth quarter. Sonora Investment Management Group LLC now owns 23,777 shares of the utilities provider’s stock worth $2,016,000 after buying an additional 3,533 shares during the last quarter. R Squared Ltd purchased a new position in Pinnacle West Capital during the fourth quarter worth $409,000. Pacer Advisors Inc. increased its position in Pinnacle West Capital by 263.2% during the fourth quarter. Pacer Advisors Inc. now owns 30,783 shares of the utilities provider’s stock valued at $2,609,000 after acquiring an additional 22,308 shares during the last quarter. Finally, KBC Group NV increased its position in Pinnacle West Capital by 48.4% during the fourth quarter. KBC Group NV now owns 4,402 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 1,435 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

PNW stock opened at $86.94 on Monday. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42. The business has a 50-day moving average price of $87.09 and a 200 day moving average price of $87.57. The company has a market capitalization of $9.89 billion, a P/E ratio of 16.47, a PEG ratio of 3.40 and a beta of 0.56. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be issued a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 4.12%. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

Analyst Ratings Changes

A number of equities analysts recently commented on PNW shares. Wells Fargo & Company lifted their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Morgan Stanley cut their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note 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 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 on the stock in a research report on Tuesday, January 28th. Finally, Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pinnacle West Capital 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.