Pinnacle West Capital Co. (NYSE:PNW) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. raised its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 33.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,440 shares of the utilities provider’s stock after buying an additional 360 shares during the period. Blue Trust Inc.’s holdings in Pinnacle West Capital were worth $128,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Venturi Wealth Management LLC increased its position 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 worth $38,000 after purchasing an additional 238 shares in the last quarter. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital during the 4th quarter worth about $42,000. Prospera Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital during the third quarter worth about $43,000. Kennebec Savings Bank acquired a new position in shares of Pinnacle West Capital in the third quarter valued at approximately $64,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Pinnacle West Capital by 27.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 899 shares of the utilities provider’s stock valued at $76,000 after buying an additional 192 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 1.4 %

Shares of Pinnacle West Capital stock opened at $88.30 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. 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 of $86.72 and a 200-day moving average of $87.64. The company has a market capitalization of $10.04 billion, a PE ratio of 16.72, a P/E/G ratio of 3.44 and a beta of 0.57.

Pinnacle West Capital Dividend Announcement

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 dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s payout ratio is currently 67.80%.

Analyst Upgrades and Downgrades

PNW has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Citigroup raised their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group lowered 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. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a report on Wednesday, December 4th. Eight investment 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 presently has a consensus rating of “Hold” and a consensus price target of $85.21.

Pinnacle West Capital 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.