Carl P. Sherr & Co. LLC Invests $203,000 in Pinnacle West Capital Co. (NYSE:PNW)

Carl P. Sherr & Co. LLC acquired a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,400 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ieq Capital LLC bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at about $348,000. Global Retirement Partners LLC lifted its position in Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 156 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Pinnacle West Capital by 15.9% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,897 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 535 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Pinnacle West Capital by 2.5% in the fourth quarter. CIBC Asset Management Inc now owns 16,125 shares of the utilities provider’s stock worth $1,367,000 after purchasing an additional 388 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Pinnacle West Capital by 125.9% during the fourth quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.9 %

Shares of Pinnacle West Capital stock opened at $91.62 on Friday. The stock has a market cap of $10.42 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57. The firm has a fifty day moving average price of $86.26 and a 200 day moving average price of $87.98. Pinnacle West Capital Co. has a 1 year low of $66.77 and a 1 year high of $95.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

Pinnacle West Capital Announces Dividend

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 issued a $0.895 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 3.91%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. 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 research note on Thursday, November 7th. Morgan Stanley dropped their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Citigroup increased their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lowered their target price on shares of 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. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company 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.