Pinnacle West Capital Co. (NYSE:PNW) Holdings Decreased by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. lessened its stake in Pinnacle West Capital Co. (NYSE:PNW) by 6.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,451 shares of the utilities provider’s stock after selling 358 shares during the period. TCI Wealth Advisors Inc.’s holdings in Pinnacle West Capital were worth $462,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PNW. State Street Corp increased its stake in shares of Pinnacle West Capital by 0.9% during the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock valued at $567,394,000 after acquiring an additional 56,644 shares during the period. Zimmer Partners LP boosted its stake in Pinnacle West Capital by 5.7% during the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after purchasing an additional 155,466 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pinnacle West Capital by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock valued at $91,078,000 after purchasing an additional 5,066 shares during the period. Empower Advisory Group LLC raised its stake in shares of Pinnacle West Capital by 2.0% in the 3rd quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider’s stock worth $86,230,000 after buying an additional 18,673 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Pinnacle West Capital by 1.6% in the third quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider’s stock valued at $64,851,000 after buying an additional 11,208 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW opened at $87.15 on Friday. Pinnacle West Capital Co. has a 12-month low of $65.20 and a 12-month high of $95.42. 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 firm has a market capitalization of $9.91 billion, a P/E ratio of 16.50, a PEG ratio of 3.40 and a beta of 0.56. The stock has a fifty day moving average of $87.34 and a 200-day moving average of $87.44.

Pinnacle West Capital Announces Dividend

The firm 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 dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a yield of 4.11%. Pinnacle West Capital’s payout ratio is presently 67.80%.

Wall Street Analyst Weigh In

PNW has been the topic of several research reports. Jefferies Financial Group dropped their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $93.00 to $91.00 in a report on Monday, November 18th. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a report on Wednesday, December 4th. 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 report on Friday, November 22nd. Finally, Wells Fargo & Company increased their price objective on 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. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Hold” and a consensus target price of $85.21.

Pinnacle West Capital Company 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.