Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Blue Trust Inc.

Blue Trust Inc. trimmed its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 67.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 347 shares of the utilities provider’s stock after selling 733 shares during the quarter. Blue Trust Inc.’s holdings in Pinnacle West Capital were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PNW. HITE Hedge Asset Management LLC lifted its stake in Pinnacle West Capital by 261.2% during the third quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock valued at $8,178,000 after purchasing an additional 66,755 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Pinnacle West Capital in the third quarter valued at $2,235,000. Principal Financial Group Inc. lifted its position in shares of Pinnacle West Capital by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock valued at $12,336,000 after acquiring an additional 9,993 shares during the last quarter. Entropy Technologies LP lifted its position in shares of Pinnacle West Capital by 170.1% during the 3rd quarter. Entropy Technologies LP now owns 30,314 shares of the utilities provider’s stock valued at $2,686,000 after acquiring an additional 19,089 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Pinnacle West Capital by 47.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider’s stock worth $995,000 after acquiring an additional 3,758 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the topic of a number of recent analyst reports. Citigroup boosted their target price 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 boosted their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday. Jefferies Financial Group decreased their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. 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 report on Monday, November 18th. Finally, Morgan Stanley reduced 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. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $86.58.

Pinnacle West Capital Stock Down 0.9 %

PNW stock opened at $90.85 on Friday. The company has a 50 day moving average of $86.68 and a two-hundred day moving average of $88.14. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 3.59 and a beta of 0.57. Pinnacle West Capital Co. has a 12-month low of $66.77 and a 12-month high of $95.42. 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 (NYSE:PNW) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. On average, equities analysts anticipate that Pinnacle West Capital Co. will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.895 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 3.94%. Pinnacle West Capital’s dividend payout ratio is 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.