Financial Counselors Inc. Boosts Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Financial Counselors Inc. boosted its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,520 shares of the utilities provider’s stock after buying an additional 2,751 shares during the quarter. Financial Counselors Inc. owned 0.19% of Pinnacle West Capital worth $18,739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of PNW. Price T Rowe Associates Inc. MD boosted its stake in shares of Pinnacle West Capital by 2.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 150,298 shares of the utilities provider’s stock valued at $11,232,000 after purchasing an additional 2,892 shares during the period. Tidal Investments LLC bought a new position in Pinnacle West Capital in the first quarter worth about $295,000. LRI Investments LLC acquired a new position in shares of Pinnacle West Capital during the first quarter valued at about $174,000. Cetera Investment Advisers increased its holdings in shares of Pinnacle West Capital by 177.0% during the first quarter. Cetera Investment Advisers now owns 29,090 shares of the utilities provider’s stock valued at $2,174,000 after acquiring an additional 18,589 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new position in shares of Pinnacle West Capital during the first quarter valued at about $569,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PNW. Wells Fargo & Company upped their target price 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. Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target on the stock. Morgan Stanley dropped their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Finally, Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $81.88.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $94.52 on Thursday. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42. The company has a market cap of $10.75 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.20 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. The stock has a 50-day moving average of $89.20 and a two-hundred day moving average of $84.31.

Pinnacle West Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.895 per share. The ex-dividend date is Monday, November 4th. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.79%. Pinnacle West Capital’s payout ratio is currently 67.80%.

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.