Natixis Advisors LLC Purchases 342 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Natixis Advisors LLC grew its position in Pinnacle West Capital Co. (NYSE:PNW) by 1.5% in the third quarter, HoldingsChannel.com reports. The fund owned 23,221 shares of the utilities provider’s stock after buying an additional 342 shares during the quarter. Natixis Advisors LLC’s holdings in Pinnacle West Capital were worth $2,057,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc increased its holdings in Pinnacle West Capital by 8.0% during the 3rd quarter. CIBC Asset Management Inc now owns 15,737 shares of the utilities provider’s stock valued at $1,394,000 after purchasing an additional 1,163 shares in the last quarter. ING Groep NV bought a new stake in shares of Pinnacle West Capital during the third quarter worth $12,065,000. KBC Group NV increased its stake in shares of Pinnacle West Capital by 21.4% in the third quarter. KBC Group NV now owns 2,967 shares of the utilities provider’s stock valued at $263,000 after buying an additional 524 shares in the last quarter. MQS Management LLC bought a new position in shares of Pinnacle West Capital in the third quarter valued at about $506,000. Finally, Empower Advisory Group LLC lifted its position in Pinnacle West Capital by 2.0% during the 3rd quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider’s stock worth $86,230,000 after buying an additional 18,673 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PNW shares. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Wells Fargo & Company boosted their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Morgan Stanley decreased their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group began coverage on Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $81.88.

Pinnacle West Capital Trading Down 0.7 %

NYSE PNW opened at $92.93 on Monday. Pinnacle West Capital Co. has a one year low of $65.20 and a one year 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. The firm has a market cap of $10.57 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.19 and a beta of 0.52. The stock’s 50-day moving average is $89.01 and its 200-day moving average is $83.96.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Monday, November 4th. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88. Pinnacle West Capital’s dividend payout ratio is 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.