Venturi Wealth Management LLC Has $38,000 Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Venturi Wealth Management LLC lifted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 124.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 429 shares of the utilities provider’s stock after purchasing an additional 238 shares during the quarter. Venturi Wealth Management LLC’s holdings in Pinnacle West Capital were worth $38,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Research Global Investors raised its holdings in Pinnacle West Capital by 97.5% during the first quarter. Capital Research Global Investors now owns 12,851,930 shares of the utilities provider’s stock valued at $960,425,000 after buying an additional 6,344,121 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Pinnacle West Capital by 72.7% in the 1st quarter. Lazard Asset Management LLC now owns 6,719,397 shares of the utilities provider’s stock worth $502,139,000 after purchasing an additional 2,828,450 shares during the last quarter. Zimmer Partners LP acquired a new stake in Pinnacle West Capital in the 1st quarter worth approximately $198,409,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Pinnacle West Capital by 24.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider’s stock worth $533,562,000 after purchasing an additional 1,379,368 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Pinnacle West Capital by 152,118.2% during the third quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock valued at $22,925,000 after purchasing an additional 258,601 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 1.1 %

Shares of PNW stock opened at $91.88 on Friday. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $93.12. 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 fifty day moving average price of $88.67 and a 200 day moving average price of $83.20. The stock has a market cap of $10.45 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52.

Pinnacle West Capital Increases Dividend

The firm also recently announced 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. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Monday, November 4th. Pinnacle West Capital’s payout ratio is 67.80%.

Analyst Upgrades and Downgrades

PNW has been the subject of several recent analyst reports. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective for the company. Morgan Stanley raised their target price on Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company upped their price target 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. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $80.96.

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.