Wealthcare Advisory Partners LLC Makes New Investment in Pinnacle West Capital Co. (NYSE:PNW)

Wealthcare Advisory Partners LLC bought a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 10,904 shares of the utilities provider’s stock, valued at approximately $924,000.

Several other large investors have also recently added to or reduced their stakes in the stock. HITE Hedge Asset Management LLC increased its stake in Pinnacle West Capital by 261.2% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock valued at $8,178,000 after buying an additional 66,755 shares during the period. XTX Topco Ltd bought a new position in shares of Pinnacle West Capital in the third quarter valued at approximately $2,235,000. Bank of Montreal Can increased its stake in shares of Pinnacle West Capital by 12.6% during the second quarter. Bank of Montreal Can now owns 203,390 shares of the utilities provider’s stock valued at $15,559,000 after acquiring an additional 22,696 shares during the period. Principal Financial Group Inc. raised its holdings in Pinnacle West Capital by 7.7% during the third quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock worth $12,336,000 after purchasing an additional 9,993 shares in the last quarter. Finally, Entropy Technologies LP raised its stake in shares of Pinnacle West Capital by 170.1% in the 3rd quarter. Entropy Technologies LP now owns 30,314 shares of the utilities provider’s stock worth $2,686,000 after buying an additional 19,089 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PNW shares. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research report on Wednesday, December 4th. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Wells Fargo & Company raised their price target 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 reduced their target price on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Finally, Citigroup increased their price target 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. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital currently has an average rating of “Hold” and an average price target of $84.65.

Pinnacle West Capital Stock Up 0.4 %

PNW stock opened at $86.75 on Monday. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 3.24 and a beta of 0.56. The company has a 50-day moving average of $88.12 and a two-hundred day moving average of $87.01. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 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.