KBC Group NV Grows Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

KBC Group NV boosted its stake in Pinnacle West Capital Co. (NYSE:PNW) by 48.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,402 shares of the utilities provider’s stock after buying an additional 1,435 shares during the period. KBC Group NV’s holdings in Pinnacle West Capital were worth $373,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Pinnacle West Capital by 33.3% during the 4th quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 360 shares during the period. Fifth Third Bancorp grew its holdings in Pinnacle West Capital by 2.8% during the 4th quarter. Fifth Third Bancorp now owns 6,100 shares of the utilities provider’s stock valued at $517,000 after buying an additional 165 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Pinnacle West Capital by 2.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,599 shares of the utilities provider’s stock valued at $814,000 after buying an additional 263 shares in the last quarter. Brighton Jones LLC purchased a new position in Pinnacle West Capital during the fourth quarter worth $417,000. Finally, Beacon Investment Advisory Services Inc. boosted its holdings in Pinnacle West Capital by 2.6% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 49,869 shares of the utilities provider’s stock valued at $4,227,000 after acquiring an additional 1,276 shares during the period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Down 0.2 %

Shares of NYSE:PNW opened at $86.94 on Monday. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 3.40 and a beta of 0.56. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The company’s fifty day moving average is $87.09 and its two-hundred day moving average is $87.57.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s payout ratio is presently 67.80%.

Analyst Ratings Changes

PNW has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective 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. Citigroup upped their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lowered their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th. Finally, KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.21.

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.