Atom Investors LP Buys 11,149 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Atom Investors LP lifted its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 86.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 24,000 shares of the utilities provider's stock after purchasing an additional 11,149 shares during the quarter. Atom Investors LP's holdings in Pinnacle West Capital were worth $2,126,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PNW. Blue Trust Inc. raised its holdings in shares of Pinnacle West Capital by 377.9% in the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 291 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Pinnacle West Capital by 124.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider's stock valued at $38,000 after buying an additional 238 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Pinnacle West Capital during the 3rd quarter worth about $43,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Pinnacle West Capital during the 2nd quarter worth about $52,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Pinnacle West Capital by 20.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider's stock valued at $61,000 after acquiring an additional 137 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

PNW traded down $0.53 during trading on Tuesday, hitting $91.89. The stock had a trading volume of 189,162 shares, compared to its average volume of 1,159,276. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The company has a 50 day moving average price of $89.43 and a 200-day moving average price of $84.70. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $95.42. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 2.22 and a beta of 0.54.

Pinnacle West Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a $0.895 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.58 dividend on an annualized basis and a yield of 3.90%. This is an increase from Pinnacle West Capital's previous quarterly dividend of $0.88. Pinnacle West Capital's payout ratio is currently 67.80%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company increased their price target on 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. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a research note on Thursday, September 19th. They set a "buy" rating and a $104.00 price objective on the stock. Barclays cut shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $93.00 to $91.00 in a research note on Monday, November 18th. StockNews.com raised shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a research report on Monday, August 5th. Finally, Morgan Stanley decreased their price objective 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $81.88.

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.