Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. lifted its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 19.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,145 shares of the utilities provider’s stock after buying an additional 183 shares during the period. ST Germain D J Co. Inc.’s holdings in Pinnacle West Capital were worth $97,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC boosted its position in Pinnacle West Capital by 140.7% during the fourth quarter. Fortitude Family Office LLC now owns 2,946 shares of the utilities provider’s stock worth $250,000 after purchasing an additional 1,722 shares in the last quarter. Fortem Financial Group LLC boosted its position in shares of Pinnacle West Capital by 2.2% in the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after buying an additional 124 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Pinnacle West Capital by 17.3% in the 4th quarter. CWA Asset Management Group LLC now owns 15,467 shares of the utilities provider’s stock valued at $1,311,000 after acquiring an additional 2,284 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Pinnacle West Capital during the 4th quarter valued at about $234,000. Finally, GAMMA Investing LLC raised its position in Pinnacle West Capital by 31.9% during the fourth quarter. GAMMA Investing LLC now owns 1,513 shares of the utilities provider’s stock worth $128,000 after acquiring an additional 366 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

PNW has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective for the company. Barclays cut 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 report on Monday, November 18th. 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 note on Friday, November 22nd. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.65.

Pinnacle West Capital Stock Down 2.2 %

Shares of PNW opened at $81.75 on Friday. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $95.42. The company’s fifty day moving average is $88.52 and its two-hundred day moving average is $86.62. The firm has a market cap of $9.29 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 yield of 4.38%. Pinnacle West Capital’s dividend payout ratio is presently 67.80%.

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.