4,745 Shares in Pinnacle West Capital Co. (NYSE:PNW) Purchased by DRW Securities LLC

DRW Securities LLC bought a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,745 shares of the utilities provider’s stock, valued at approximately $420,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNW. First Horizon Advisors Inc. lifted its stake in Pinnacle West Capital by 20.9% during the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 137 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Pinnacle West Capital by 13.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock valued at $102,000 after acquiring an additional 138 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Pinnacle West Capital by 2.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,581 shares of the utilities provider’s stock worth $583,000 after acquiring an additional 169 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Pinnacle West Capital by 0.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock worth $1,659,000 after acquiring an additional 199 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Pinnacle West Capital by 2.2% during the third quarter. Private Advisor Group LLC now owns 9,392 shares of the utilities provider’s stock worth $832,000 after purchasing an additional 203 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Up 1.0 %

PNW opened at $93.80 on Wednesday. The company has a market capitalization of $10.67 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 2.26 and a beta of 0.52. The business has a 50-day moving average of $89.04 and a 200-day moving average of $84.12. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $94.38. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 3.82%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, November 4th. Pinnacle West Capital’s payout ratio is currently 67.80%.

Analyst Ratings Changes

A number of research firms recently weighed in on PNW. Wells Fargo & Company increased 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. StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Jefferies Financial Group began coverage on shares of Pinnacle West Capital in a report on Thursday, September 19th. They set a “buy” rating and a $104.00 price target on the stock. Barclays lowered shares of 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 research note on Monday, November 18th. Finally, Morgan Stanley cut their target price 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. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $81.88.

About Pinnacle West Capital

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.