Pinnacle West Capital Co. (NYSE:PNW) Position Increased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 26.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,709 shares of the utilities provider’s stock after buying an additional 561 shares during the period. Asset Management One Co. Ltd.’s holdings in Pinnacle West Capital were worth $230,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PNW. State Street Corp boosted its stake in Pinnacle West Capital by 0.9% in the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock worth $567,394,000 after purchasing an additional 56,644 shares during the period. Zimmer Partners LP boosted its stake in Pinnacle West Capital by 5.7% in the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after purchasing an additional 155,466 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Pinnacle West Capital by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock worth $91,078,000 after purchasing an additional 5,066 shares during the period. Empower Advisory Group LLC boosted its stake 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 period. Finally, Captrust Financial Advisors boosted its stake in Pinnacle West Capital by 1.6% in the 3rd quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider’s stock worth $64,851,000 after purchasing an additional 11,208 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price objective 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. Jefferies Financial Group decreased their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Citigroup raised their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Finally, Morgan Stanley cut their target price 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 five have given a buy rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Hold” and an average price target of $85.21.

Pinnacle West Capital Stock Up 0.4 %

Pinnacle West Capital stock opened at $90.79 on Friday. The company has a market capitalization of $10.32 billion, a P/E ratio of 17.20, a P/E/G ratio of 3.56 and a beta of 0.57. The firm’s fifty day simple moving average is $86.18 and its 200-day simple moving average is $87.94. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a 1-year low of $66.77 and a 1-year high of $95.42.

Pinnacle West Capital Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.94%. Pinnacle West Capital’s dividend payout ratio is currently 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.