Czech National Bank Grows Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Czech National Bank raised its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 6.6% in the 4th quarter, Holdings Channel reports. The fund owned 24,656 shares of the utilities provider’s stock after acquiring an additional 1,523 shares during the quarter. Czech National Bank’s holdings in Pinnacle West Capital were worth $2,090,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNW. Dimensional Fund Advisors LP raised its stake in shares of Pinnacle West Capital by 31.2% during the second quarter. Dimensional Fund Advisors LP now owns 845,137 shares of the utilities provider’s stock worth $64,550,000 after purchasing an additional 200,816 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Pinnacle West Capital by 9.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 54,918 shares of the utilities provider’s stock valued at $4,195,000 after buying an additional 4,725 shares during the period. Amalgamated Bank raised its position in Pinnacle West Capital by 12.7% during the 2nd quarter. Amalgamated Bank now owns 36,849 shares of the utilities provider’s stock worth $2,815,000 after buying an additional 4,139 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Pinnacle West Capital by 13.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,735 shares of the utilities provider’s stock worth $887,000 after acquiring an additional 1,353 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Pinnacle West Capital by 11.5% in the second quarter. Hsbc Holdings PLC now owns 543,885 shares of the utilities provider’s stock valued at $41,534,000 after acquiring an additional 56,068 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $86.52 on Friday. The firm has a market capitalization of $9.84 billion, a PE ratio of 16.39, a P/E/G ratio of 3.24 and a beta of 0.56. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $95.42. The firm’s 50-day simple moving average is $88.23 and its 200 day simple moving average is $86.78. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PNW shares. 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 report on Thursday, November 7th. Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Morgan Stanley decreased 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. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a report on Wednesday, December 4th. Finally, Citigroup raised their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus target price of $84.65.

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.