GSA Capital Partners LLP Invests $905,000 in Pinnacle West Capital Co. (NYSE:PNW)

GSA Capital Partners LLP bought a new stake in Pinnacle West Capital Co. (NYSE:PNW) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,220 shares of the utilities provider’s stock, valued at approximately $905,000.

Other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its position 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 boosted its position in shares of Pinnacle West Capital by 13.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 138 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Pinnacle West Capital by 2.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,581 shares of the utilities provider’s stock valued at $583,000 after purchasing an additional 169 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake 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 valued at $1,659,000 after buying an additional 199 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Pinnacle West Capital by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 9,392 shares of the utilities provider’s stock valued at $832,000 after purchasing an additional 203 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW opened at $91.88 on Friday. The firm’s fifty day moving average price is $88.75 and its two-hundred day moving average price is $83.32. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 2.13 and a beta of 0.52. 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 $93.12.

Pinnacle West Capital Increases Dividend

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

Analyst Ratings Changes

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