Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 30.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,730 shares of the utilities provider’s stock after selling 19,233 shares during the quarter. Quantbot Technologies LP’s holdings in Pinnacle West Capital were worth $3,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PNW. Blue Trust Inc. increased its holdings in Pinnacle West Capital by 377.9% in the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock worth $28,000 after buying an additional 291 shares during the period. Cape Investment Advisory Inc. acquired a new stake in shares of Pinnacle West Capital during the 1st quarter worth approximately $30,000. Venturi Wealth Management LLC grew its stake in shares of 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 during the period. Prospera Private Wealth LLC acquired a new stake in shares of Pinnacle West Capital during the 3rd quarter worth approximately $43,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Pinnacle West Capital during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNW. Morgan Stanley dropped their price target 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. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Jefferies Financial Group began coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target on the stock. 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 note on Thursday, November 7th. Finally, StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. 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.com, the company presently has a consensus rating of “Hold” and an average target price of $81.88.

Pinnacle West Capital Stock Up 1.0 %

Shares of PNW opened at $93.80 on Wednesday. The stock has a market capitalization of $10.67 billion, a PE ratio of 17.77, a P/E/G ratio of 2.26 and a beta of 0.52. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $94.38. 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’s 50-day simple moving average is $89.04 and its 200-day simple moving average is $84.12.

Pinnacle West Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, November 4th. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

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.