Crossmark Global Holdings Inc. Acquires 169 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Crossmark Global Holdings Inc. lifted its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,581 shares of the utilities provider’s stock after buying an additional 169 shares during the period. Crossmark Global Holdings Inc.’s holdings in Pinnacle West Capital were worth $583,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in Pinnacle West Capital by 20.9% during the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 137 shares during the last quarter. GAMMA Investing LLC raised its holdings in Pinnacle West Capital by 13.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock valued at $102,000 after buying an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Pinnacle West Capital by 0.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock worth $1,659,000 after buying an additional 199 shares during the last quarter. Private Advisor Group LLC boosted its stake in Pinnacle West Capital by 2.2% during the third quarter. Private Advisor Group LLC now owns 9,392 shares of the utilities provider’s stock worth $832,000 after buying an additional 203 shares during the period. Finally, SFE Investment Counsel increased its position in Pinnacle West Capital by 1.3% during the second quarter. SFE Investment Counsel now owns 18,430 shares of the utilities provider’s stock valued at $1,408,000 after acquiring an additional 245 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Up 1.1 %

Shares of Pinnacle West Capital stock opened at $91.88 on Friday. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $93.12. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The stock has a market cap of $10.45 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.13 and a beta of 0.52. The firm’s 50-day moving average is $88.67 and its two-hundred day moving average is $83.20.

Pinnacle West Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 3.90%. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, November 4th. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Jefferies Financial Group assumed coverage on Pinnacle West Capital in a report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective for the company. Morgan Stanley increased their target price on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company lifted their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $80.96.

Pinnacle West Capital 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.