Butensky & Cohen Financial Security Inc. Buys 969 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Butensky & Cohen Financial Security Inc. raised its stake in Pinnacle West Capital Co. (NYSE:PNW) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,480 shares of the utilities provider’s stock after purchasing an additional 969 shares during the period. Pinnacle West Capital accounts for 1.6% of Butensky & Cohen Financial Security Inc.’s holdings, making the stock its 19th biggest holding. Butensky & Cohen Financial Security Inc.’s holdings in Pinnacle West Capital were worth $5,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PNW. Wealthcare Advisory Partners LLC bought a new position in Pinnacle West Capital in the fourth quarter worth approximately $924,000. Mirador Capital Partners LP lifted its holdings in shares of Pinnacle West Capital by 2.3% in the 4th quarter. Mirador Capital Partners LP now owns 8,768 shares of the utilities provider’s stock worth $743,000 after purchasing an additional 199 shares in the last quarter. ERn Financial LLC grew its position in Pinnacle West Capital by 25.4% in the 4th quarter. ERn Financial LLC now owns 16,073 shares of the utilities provider’s stock valued at $1,363,000 after purchasing an additional 3,257 shares during the period. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital during the 4th quarter valued at $42,000. Finally, Burney Co. raised its holdings in Pinnacle West Capital by 17.9% during the fourth quarter. Burney Co. now owns 16,602 shares of the utilities provider’s stock worth $1,407,000 after buying an additional 2,523 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $86.75 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 firm has a market cap of $9.86 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 3.24 and a beta of 0.56. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $95.42. The firm’s 50-day simple moving average is $88.12 and its two-hundred day simple moving average is $86.85.

Pinnacle West Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a $0.895 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 annualized dividend and a yield of 4.13%. Pinnacle West Capital’s payout ratio is 67.80%.

Analyst Ratings Changes

Several research firms have recently commented on PNW. Citigroup boosted their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley decreased their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Barclays cut 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. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price objective on shares of 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 six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.65.

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.