Pinnacle West Capital Co. (NYSE:PNW) Stock Holdings Lifted by Naples Global Advisors LLC

Naples Global Advisors LLC grew its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,558 shares of the utilities provider’s stock after acquiring an additional 350 shares during the period. Naples Global Advisors LLC’s holdings in Pinnacle West Capital were worth $895,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PNW. Fortem Financial Group LLC lifted its holdings in shares of Pinnacle West Capital by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 124 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in Pinnacle West Capital by 2.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock worth $593,000 after buying an additional 163 shares during the period. LRI Investments LLC lifted its stake in Pinnacle West Capital by 7.0% during the third quarter. LRI Investments LLC now owns 2,498 shares of the utilities provider’s stock valued at $227,000 after buying an additional 163 shares in the last quarter. Caprock Group LLC boosted its holdings in shares of Pinnacle West Capital by 3.1% in the fourth quarter. Caprock Group LLC now owns 5,511 shares of the utilities provider’s stock worth $467,000 after buying an additional 164 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of Pinnacle West Capital by 2.8% in the fourth quarter. Fifth Third Bancorp now owns 6,100 shares of the utilities provider’s stock worth $517,000 after acquiring an additional 165 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $89.38 on Friday. The business’s 50-day simple moving average is $86.24 and its 200-day simple moving average is $87.81. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 3.47 and a beta of 0.57. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 52 week low of $66.64 and a 52 week high of $95.42.

Pinnacle West Capital Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 4.01%. 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 Analysts Forecast Growth

Several brokerages recently commented on PNW. Citigroup upped their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley reduced their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group decreased their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.21.

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.