Integrated Investment Consultants LLC Purchases Shares of 9,800 Pinnacle West Capital Co. (NYSE:PNW)

Integrated Investment Consultants LLC acquired a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 9,800 shares of the utilities provider’s stock, valued at approximately $831,000.

Several other institutional investors have also modified their holdings of PNW. Venturi Wealth Management LLC raised its stake in Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 238 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Pinnacle West Capital during the third quarter worth about $43,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital during the fourth quarter worth about $42,000. Kennebec Savings Bank purchased a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at about $64,000. Finally, Blue Trust Inc. boosted its position in shares of Pinnacle West Capital by 193.5% in the 3rd quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 712 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $86.75 on Friday. The business has a 50 day moving average price of $88.12 and a 200 day moving average price of $86.85. The company has a market capitalization of $9.86 billion, a P/E ratio of 16.43, a PEG ratio of 3.24 and a beta of 0.56. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders 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 dividend yield of 4.13%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Wall Street Analyst Weigh In

PNW has been the topic of a number of recent research reports. KeyCorp raised 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. Citigroup lifted their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Wells Fargo & Company boosted their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley decreased their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $84.65.

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.