MassMutual Private Wealth & Trust FSB Boosts Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 27.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 899 shares of the utilities provider’s stock after purchasing an additional 192 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Pinnacle West Capital were worth $76,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC raised its holdings in shares of Pinnacle West Capital by 124.6% during 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. Prospera Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital in the 3rd quarter worth about $43,000. Roble Belko & Company Inc bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at about $42,000. Kennebec Savings Bank purchased a new position in shares of Pinnacle West Capital during the third quarter valued at about $64,000. Finally, Blue Trust Inc. raised its stake in Pinnacle West Capital by 193.5% in the third quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider’s stock worth $96,000 after buying an additional 712 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Down 0.6 %

PNW stock opened at $85.42 on Friday. 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 Co. has a 1-year low of $65.20 and a 1-year high of $95.42. The stock has a market capitalization of $9.71 billion, a P/E ratio of 16.18, a P/E/G ratio of 3.48 and a beta of 0.56. The business has a fifty day moving average price of $87.86 and a 200-day moving average price of $87.17.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 4.19%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

Analysts Set New Price Targets

Several analysts have weighed in on PNW shares. Citigroup lifted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective 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 on the stock in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target on shares of 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. Finally, Morgan Stanley cut their price objective on shares of 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. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.