Cerity Partners LLC Purchases 1,321 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Cerity Partners LLC grew its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,910 shares of the utilities provider’s stock after buying an additional 1,321 shares during the quarter. Cerity Partners LLC’s holdings in Pinnacle West Capital were worth $3,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PNW. Norges Bank bought a new stake in Pinnacle West Capital during the fourth quarter worth about $104,067,000. State Street Corp grew its stake in Pinnacle West Capital by 18.4% during the first quarter. State Street Corp now owns 6,911,753 shares of the utilities provider’s stock worth $539,808,000 after buying an additional 1,072,235 shares during the last quarter. Invesco Ltd. grew its stake in Pinnacle West Capital by 29.6% during the first quarter. Invesco Ltd. now owns 3,537,942 shares of the utilities provider’s stock worth $276,313,000 after buying an additional 808,207 shares during the last quarter. Captrust Financial Advisors grew its stake in Pinnacle West Capital by 297.6% during the fourth quarter. Captrust Financial Advisors now owns 633,531 shares of the utilities provider’s stock worth $48,174,000 after buying an additional 474,174 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Pinnacle West Capital by 2.7% during the first quarter. BlackRock Inc. now owns 10,307,741 shares of the utilities provider’s stock worth $816,785,000 after buying an additional 273,945 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Price Performance

Shares of PNW stock opened at $71.97 on Thursday. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $86.03. The stock has a market cap of $8.17 billion, a PE ratio of 16.32, a PEG ratio of 2.02 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.50 and a current ratio of 0.67. The firm’s 50 day moving average price is $70.83 and its two-hundred day moving average price is $72.04.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.89%. Pinnacle West Capital’s payout ratio is presently 79.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PNW. Barclays increased their price target on shares of Pinnacle West Capital from $75.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Bank of America raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and increased their price target for the company from $71.00 to $80.00 in a research note on Monday, March 18th. LADENBURG THALM/SH SH began coverage on shares of Pinnacle West Capital in a research note on Wednesday, February 14th. They set a “neutral” rating and a $69.00 price target on the stock. Finally, Mizuho decreased their price target on shares of Pinnacle West Capital from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital currently has an average rating of “Hold” and a consensus target price of $73.00.

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.