Shell Asset Management Co. Raises Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Shell Asset Management Co. raised its position in shares of Pinnacle West Capital Co. (NYSE:PNWFree Report) by 69.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,195 shares of the utilities provider’s stock after buying an additional 2,951 shares during the period. Shell Asset Management Co.’s holdings in Pinnacle West Capital were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Linden Thomas Advisory Services LLC boosted its position in shares of Pinnacle West Capital by 3.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 10,713 shares of the utilities provider’s stock worth $873,000 after buying an additional 373 shares during the period. Bank of Montreal Can purchased a new position in shares of Pinnacle West Capital during the second quarter worth $15,524,000. Empirical Finance LLC boosted its position in shares of Pinnacle West Capital by 12.9% during the second quarter. Empirical Finance LLC now owns 3,532 shares of the utilities provider’s stock worth $288,000 after buying an additional 404 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Pinnacle West Capital by 244.4% during the second quarter. Geneos Wealth Management Inc. now owns 5,758 shares of the utilities provider’s stock worth $469,000 after buying an additional 4,086 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in Pinnacle West Capital by 18.2% in the third quarter. Moors & Cabot Inc. now owns 6,257 shares of the utilities provider’s stock valued at $461,000 after purchasing an additional 962 shares during the period. 84.95% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Up 0.9 %

Pinnacle West Capital stock opened at $67.00 on Friday. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $86.03. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.85. The stock has a market cap of $7.60 billion, a PE ratio of 15.95, a P/E/G ratio of 3.49 and a beta of 0.49. The stock’s fifty day moving average is $71.66 and its two-hundred day moving average is $74.38.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 1st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend is Wednesday, January 31st. Pinnacle West Capital’s dividend payout ratio is presently 83.81%.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 1,610 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $75.95, for a total value of $122,279.50. Following the sale, the executive vice president now directly owns 9,178 shares in the company, valued at $697,069.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PNW shares. Wells Fargo & Company decreased their target price on Pinnacle West Capital from $78.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, January 26th. Guggenheim upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 target price for the company in a report on Monday, January 22nd. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Morgan Stanley lifted their target price on Pinnacle West Capital from $71.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, November 21st. Finally, Mizuho decreased their target price on Pinnacle West Capital from $79.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of “Hold” and a consensus price target of $73.63.

Read Our Latest Research Report on Pinnacle West Capital

Pinnacle West Capital Profile

(Free Report)

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, 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.

Further Reading

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Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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