Pinnacle West Capital Co. (NYSE:PNW) Stock Position Increased by Venturi Wealth Management LLC

Venturi Wealth Management LLC increased its position in Pinnacle West Capital Co. (NYSE:PNW) by 124.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 429 shares of the utilities provider’s stock after buying an additional 238 shares during the quarter. Venturi Wealth Management LLC’s holdings in Pinnacle West Capital were worth $38,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in Pinnacle West Capital by 20.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 137 shares during the last quarter. GAMMA Investing LLC lifted its stake in Pinnacle West Capital by 13.7% during the third quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 138 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Pinnacle West Capital by 2.6% during the third quarter. Crossmark Global Holdings Inc. now owns 6,581 shares of the utilities provider’s stock worth $583,000 after buying an additional 169 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew 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. Finally, Private Advisor Group LLC increased its holdings in shares of Pinnacle West Capital by 2.2% in the third quarter. Private Advisor Group LLC now owns 9,392 shares of the utilities provider’s stock valued at $832,000 after buying an additional 203 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 1.1 %

Shares of NYSE:PNW opened at $91.88 on Friday. The firm has a fifty day moving average of $88.67 and a two-hundred day moving average of $83.20. 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 Co. has a 12-month low of $65.20 and a 12-month high of $93.12. The firm has a market capitalization of $10.45 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52.

Pinnacle West Capital Increases Dividend

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

Wall Street Analysts Forecast Growth

PNW has been the subject of several research reports. Morgan Stanley lifted their target price on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Wells Fargo & Company raised their target price 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. Finally, Jefferies Financial Group started coverage on shares of Pinnacle West Capital in a report on Thursday, September 19th. They set a “buy” rating and a $104.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.96.

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.