City Holding Co. Sells 165 Shares of Pinnacle West Capital Co. (NYSE:PNW)

City Holding Co. lessened its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 7.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,975 shares of the utilities provider’s stock after selling 165 shares during the period. City Holding Co.’s holdings in Pinnacle West Capital were worth $167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNW. State Street Corp grew its holdings in Pinnacle West Capital by 0.9% during the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock worth $567,394,000 after acquiring an additional 56,644 shares during the last quarter. Zimmer Partners LP grew its stake in shares of Pinnacle West Capital by 5.7% during the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after purchasing an additional 155,466 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Pinnacle West Capital by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock valued at $91,078,000 after purchasing an additional 5,066 shares in the last quarter. Empower Advisory Group LLC raised its position in Pinnacle West Capital by 2.0% in the 3rd quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider’s stock worth $86,230,000 after purchasing an additional 18,673 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Pinnacle West Capital by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 845,137 shares of the utilities provider’s stock worth $64,550,000 after buying an additional 200,816 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Performance

PNW stock opened at $86.75 on Tuesday. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42. 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 firm has a market cap of $9.86 billion, a PE ratio of 16.43, a P/E/G ratio of 3.24 and a beta of 0.56. The business’s 50-day moving average price is $88.02 and its two-hundred day moving average price is $87.09.

Pinnacle West Capital Announces Dividend

The firm 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 dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a yield of 4.13%. Pinnacle West Capital’s payout ratio is 67.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Citigroup lifted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Morgan Stanley lowered their price target on shares of 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. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and a consensus price target of $84.65.

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.