City Holding Co. Has $167,000 Holdings in Pinnacle West Capital Co. (NYSE:PNW)

City Holding Co. decreased its position in Pinnacle West Capital Co. (NYSE:PNW) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,975 shares of the utilities provider’s stock after selling 165 shares during the quarter. City Holding Co.’s holdings in Pinnacle West Capital were worth $167,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ellsworth Advisors LLC raised its position in Pinnacle West Capital by 9.6% in the 4th quarter. Ellsworth Advisors LLC now owns 20,731 shares of the utilities provider’s stock valued at $1,757,000 after buying an additional 1,820 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in shares of Pinnacle West Capital during the 4th quarter worth approximately $831,000. Butensky & Cohen Financial Security Inc. raised its holdings in shares of Pinnacle West Capital by 1.7% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 59,480 shares of the utilities provider’s stock valued at $5,042,000 after purchasing an additional 969 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of Pinnacle West Capital in the fourth quarter worth $924,000. Finally, Mirador Capital Partners LP boosted its holdings in Pinnacle West Capital by 2.3% during the fourth quarter. Mirador Capital Partners LP now owns 8,768 shares of the utilities provider’s stock worth $743,000 after purchasing an additional 199 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Trading Up 0.4 %

Shares of NYSE:PNW opened at $86.75 on Tuesday. Pinnacle West Capital Co. has a 12-month low of $65.20 and a 12-month high of $95.42. The business has a 50 day moving average of $88.02 and a 200-day moving average of $87.09. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The stock has a market cap of $9.86 billion, a PE ratio of 16.43, a P/E/G ratio of 3.24 and a beta of 0.56.

Pinnacle West Capital Announces Dividend

The company also recently disclosed 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 4.13%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is 67.80%.

Wall Street Analysts Forecast Growth

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