Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Bfsg LLC

Bfsg LLC decreased its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,198 shares of the utilities provider’s stock after selling 348 shares during the quarter. Bfsg LLC’s holdings in Pinnacle West Capital were worth $3,069,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at approximately $29,000. Venturi Wealth Management LLC raised its holdings in Pinnacle West Capital by 124.6% in 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. acquired a new stake in Pinnacle West Capital in the fourth quarter valued at $38,000. Prospera Private Wealth LLC bought a new position in Pinnacle West Capital during the 3rd quarter valued at $43,000. Finally, Roble Belko & Company Inc acquired a new position in Pinnacle West Capital during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pinnacle West Capital Stock Performance

PNW stock opened at $89.37 on Tuesday. The company has a market capitalization of $10.16 billion, a P/E ratio of 16.93, a PEG ratio of 3.47 and a beta of 0.57. 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 simple moving average of $86.12 and a 200 day simple moving average of $87.89. Pinnacle West Capital Co. has a fifty-two week low of $66.77 and a fifty-two week high of $95.42.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued 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 yield of 4.01%. Pinnacle West Capital’s payout ratio is 67.80%.

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.