Pinnacle West Capital Co. (NYSE:PNW) Stock Holdings Reduced by Y.D. More Investments Ltd

Y.D. More Investments Ltd cut its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,461 shares of the utilities provider’s stock after selling 194 shares during the period. Y.D. More Investments Ltd’s holdings in Pinnacle West Capital were worth $124,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC raised its position 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 valued at $38,000 after acquiring an additional 238 shares in the last quarter. Brown Lisle Cummings Inc. bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at $38,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $42,000. Prospera Private Wealth LLC acquired a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at $43,000. Finally, Kennebec Savings Bank bought a new stake in Pinnacle West Capital in the third quarter worth $64,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Up 1.4 %

NYSE PNW opened at $88.30 on Thursday. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $95.42. The stock has a market cap of $10.04 billion, a PE ratio of 16.72, a PEG ratio of 3.44 and a beta of 0.57. The firm has a 50-day simple moving average of $86.72 and a 200 day simple moving average of $87.64. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be given a $0.895 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.05%. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

Wall Street Analyst Weigh In

PNW has been the subject of a number of analyst reports. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Wells Fargo & Company boosted their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Jefferies Financial Group lowered their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Citigroup boosted their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, 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 report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.21.

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.