Entropy Technologies LP Sells 11,133 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Entropy Technologies LP lowered its position in Pinnacle West Capital Co. (NYSE:PNW) by 36.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,181 shares of the utilities provider’s stock after selling 11,133 shares during the period. Entropy Technologies LP’s holdings in Pinnacle West Capital were worth $1,626,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNW. Assenagon Asset Management S.A. increased its stake in shares of Pinnacle West Capital by 221.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock worth $57,413,000 after purchasing an additional 466,736 shares during the last quarter. Jennison Associates LLC bought a new stake in Pinnacle West Capital in the fourth quarter worth $32,078,000. International Assets Investment Management LLC increased its position in Pinnacle West Capital by 152,118.2% during the third quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock worth $22,925,000 after buying an additional 258,601 shares during the last quarter. Yaupon Capital Management LP bought a new position in Pinnacle West Capital during the third quarter valued at about $22,173,000. Finally, Zimmer Partners LP raised its holdings in Pinnacle West Capital by 5.7% during the third 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. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of recent analyst reports. 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. Morgan Stanley lowered their target price on 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. Jefferies Financial Group cut their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upped their target price 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. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $85.21.

Pinnacle West Capital Stock Down 0.9 %

Shares of PNW opened at $86.95 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company has a 50-day moving average price of $86.44 and a two-hundred day moving average price of $87.74. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 3.47 and a beta of 0.57. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $95.42.

Pinnacle West Capital Dividend Announcement

The business also recently declared 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. This represents a $3.58 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.80%.

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.