Caprock Group LLC Buys 164 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Caprock Group LLC grew its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,511 shares of the utilities provider’s stock after buying an additional 164 shares during the period. Caprock Group LLC’s holdings in Pinnacle West Capital were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in shares of Pinnacle West Capital by 221.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock worth $57,413,000 after acquiring an additional 466,736 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Pinnacle West Capital by 152,118.2% in the third quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock worth $22,925,000 after acquiring an additional 258,601 shares in the last quarter. Yaupon Capital Management LP bought a new stake in shares of Pinnacle West Capital in the third quarter worth about $22,173,000. Zimmer Partners LP increased its holdings in shares of Pinnacle West Capital by 5.7% in the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after acquiring an additional 155,466 shares in the last quarter. Finally, ING Groep NV bought a new stake in shares of Pinnacle West Capital in the third quarter worth about $12,065,000. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PNW shares. Morgan Stanley reduced their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a report on Wednesday, December 4th. Jefferies Financial Group decreased their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Citigroup increased their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective 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. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.21.

Pinnacle West Capital Trading Up 0.3 %

PNW opened at $87.10 on Wednesday. The company has a market cap of $9.90 billion, a P/E ratio of 16.50, a PEG ratio of 3.44 and a beta of 0.57. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company’s 50 day moving average is $86.84 and its 200-day moving average is $87.64. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42.

Pinnacle West Capital Dividend Announcement

The business also recently announced 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 is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.11%. Pinnacle West Capital’s payout ratio is presently 67.80%.

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.