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

Beacon Investment Advisory Services Inc. lifted its stake in Pinnacle West Capital Co. (NYSE:PNW) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 49,869 shares of the utilities provider’s stock after acquiring 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 reporting period.

A number of other hedge funds have also recently made changes to their positions in PNW. Venturi Wealth Management LLC lifted its stake in Pinnacle West Capital by 124.6% during the third 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 purchased a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $42,000. Prospera Private Wealth LLC acquired a new position in Pinnacle West Capital during the 3rd quarter worth about $43,000. Kennebec Savings Bank purchased a new position in Pinnacle West Capital during the 3rd quarter valued at about $64,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in Pinnacle West Capital by 27.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 899 shares of the utilities provider’s stock valued at $76,000 after acquiring an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $85.97 on Thursday. The stock’s 50-day simple moving average is $87.96 and its 200-day simple moving average is $87.17. 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 capitalization of $9.78 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 3.48 and a beta of 0.56. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $95.42.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 4.16%. Pinnacle West Capital’s dividend payout ratio is presently 67.80%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Wells Fargo & Company raised 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. Citigroup upped 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. Morgan Stanley decreased their target price 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. Finally, Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Eight 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 company presently has an average rating of “Hold” and an average target price of $85.21.

About Pinnacle West Capital

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.