Pinnacle West Capital Co. (NYSE:PNW) Shares Purchased by Mirador Capital Partners LP

Mirador Capital Partners LP raised its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,768 shares of the utilities provider’s stock after buying an additional 199 shares during the period. Mirador Capital Partners LP’s holdings in Pinnacle West Capital were worth $743,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. ERn Financial LLC boosted its stake in shares of Pinnacle West Capital by 25.4% during the fourth quarter. ERn Financial LLC now owns 16,073 shares of the utilities provider’s stock valued at $1,363,000 after acquiring an additional 3,257 shares during the last quarter. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital during the 4th quarter worth about $42,000. Burney Co. grew its holdings in shares of Pinnacle West Capital by 17.9% during the fourth quarter. Burney Co. now owns 16,602 shares of the utilities provider’s stock worth $1,407,000 after buying an additional 2,523 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Pinnacle West Capital by 22.8% in the fourth quarter. Park Avenue Securities LLC now owns 3,213 shares of the utilities provider’s stock valued at $272,000 after buying an additional 597 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Pinnacle West Capital by 221.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock valued at $57,413,000 after buying an additional 466,736 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW opened at $84.41 on Thursday. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $95.42. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 3.24 and a beta of 0.56. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company has a fifty day simple moving average of $88.28 and a 200 day simple moving average of $86.78.

Pinnacle West Capital Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 4.24%. Pinnacle West Capital’s dividend payout ratio is presently 67.80%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Citigroup raised their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley dropped their price target on shares of 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. Wells Fargo & Company upped their price objective on 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, KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research note on Wednesday, December 4th. Eight 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, Pinnacle West Capital has a consensus rating of “Hold” and a consensus 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.