Pinnacle West Capital Co. (NYSE:PNW) Shares Acquired by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lifted its position in Pinnacle West Capital Co. (NYSE:PNW) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,869 shares of the utilities provider’s stock after purchasing an additional 1,276 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Pinnacle West Capital were worth $4,227,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its holdings in shares of Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 238 shares during the period. Roble Belko & Company Inc purchased a new stake in Pinnacle West Capital in the 4th quarter valued at $42,000. Prospera Private Wealth LLC acquired a new stake in Pinnacle West Capital during the 3rd quarter worth $43,000. Kennebec Savings Bank purchased a new position in Pinnacle West Capital during the 3rd quarter worth $64,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Pinnacle West Capital by 27.2% in the fourth 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 during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PNW. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Citigroup increased their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their target price 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. Morgan Stanley cut their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Finally, Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.21.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $85.97 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $95.42. The firm has a market capitalization of $9.78 billion, a P/E ratio of 16.28, a PEG ratio of 3.48 and a beta of 0.56. The company’s fifty day moving average is $87.96 and its two-hundred day moving average is $87.17.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

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.