Glenmede Trust Co. NA Acquires 163 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Glenmede Trust Co. NA boosted its position in Pinnacle West Capital Co. (NYSE:PNWFree Report) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,695 shares of the utilities provider’s stock after acquiring an additional 163 shares during the quarter. Glenmede Trust Co. NA’s holdings in Pinnacle West Capital were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in Pinnacle West Capital by 20.9% in the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 137 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Pinnacle West Capital by 13.7% during the third quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock worth $102,000 after buying an additional 138 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Pinnacle West Capital by 2.6% during the third quarter. Crossmark Global Holdings Inc. now owns 6,581 shares of the utilities provider’s stock worth $583,000 after buying an additional 169 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Pinnacle West Capital by 0.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock worth $1,659,000 after buying an additional 199 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Pinnacle West Capital by 2.2% during the third quarter. Private Advisor Group LLC now owns 9,392 shares of the utilities provider’s stock worth $832,000 after buying an additional 203 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Trading Down 1.2 %

PNW opened at $91.28 on Wednesday. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42. 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 $10.38 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54. The company has a fifty day moving average price of $89.47 and a two-hundred day moving average price of $84.79.

Pinnacle West Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were given a dividend of $0.895 per share. The ex-dividend date of this dividend was Monday, November 4th. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 annualized dividend and a dividend yield of 3.92%. Pinnacle West Capital’s payout ratio is presently 67.80%.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They set a “buy” rating and a $104.00 target price on the stock. Wells Fargo & Company boosted their target price 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. Barclays cut shares of 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 note on Monday, November 18th. Finally, Morgan Stanley decreased their target price on shares of 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. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.88.

View Our Latest Research Report on Pinnacle West Capital

Pinnacle West Capital 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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