Pinnacle West Capital Co. (NYSE:PNW) Stake Lowered by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. cut its stake in Pinnacle West Capital Co. (NYSE:PNW) by 6.2% during the fourth quarter, HoldingsChannel reports. The fund owned 5,451 shares of the utilities provider’s stock after selling 358 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Pinnacle West Capital were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PNW. State Street Corp increased its position in Pinnacle West Capital by 0.9% in the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock worth $567,394,000 after purchasing an additional 56,644 shares during the last quarter. Zimmer Partners LP grew its stake in shares of Pinnacle West Capital by 5.7% in the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after buying an additional 155,466 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Pinnacle West Capital by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock worth $91,078,000 after buying an additional 5,066 shares during the last quarter. Empower Advisory Group LLC raised its position in Pinnacle West Capital by 2.0% during the third quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider’s stock valued at $86,230,000 after acquiring an additional 18,673 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Pinnacle West Capital by 1.6% during the 3rd quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider’s stock worth $64,851,000 after purchasing an additional 11,208 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of several analyst reports. Jefferies Financial Group reduced their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays lowered 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 report on Monday, November 18th. Citigroup upped their target price 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 lifted their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley dropped 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 report on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.21.

Pinnacle West Capital Stock Up 1.4 %

Shares of PNW opened at $87.15 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The company has a 50-day simple moving average of $87.34 and a 200-day simple moving average of $87.44. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $95.42. The firm has a market capitalization of $9.91 billion, a P/E ratio of 16.50, a P/E/G ratio of 3.40 and a beta of 0.56.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 yield of 4.11%. Pinnacle West Capital’s dividend payout ratio (DPR) is 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.