Brighton Jones LLC Acquires New Stake in Pinnacle West Capital Co. (NYSE:PNW)

Brighton Jones LLC bought a new position in Pinnacle West Capital Co. (NYSE:PNW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,916 shares of the utilities provider’s stock, valued at approximately $417,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC lifted its holdings in Pinnacle West Capital by 124.6% during 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 in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Pinnacle West Capital during the third quarter valued at approximately $43,000. Roble Belko & Company Inc purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $42,000. Kennebec Savings Bank purchased a new position in Pinnacle West Capital during the 3rd quarter worth $64,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in Pinnacle West Capital by 27.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 899 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 192 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Price Performance

Shares of PNW opened at $85.80 on Monday. The firm has a market capitalization of $9.76 billion, a PE ratio of 16.25, a price-to-earnings-growth 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. The company’s fifty day moving average price is $87.63 and its 200-day moving average price is $87.35. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be paid a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s payout ratio is 67.80%.

Wall Street Analyst Weigh In

PNW has been the topic of a number of recent research reports. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research report on Wednesday, December 4th. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Morgan Stanley lowered their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Citigroup lifted their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their target price 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. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.21.

Pinnacle West Capital Company 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.