Cambiar Investors LLC Sells 17,233 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Cambiar Investors LLC lessened its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,581 shares of the utilities provider's stock after selling 17,233 shares during the quarter. Cambiar Investors LLC owned 0.12% of Pinnacle West Capital worth $12,002,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp lifted its position in shares of Pinnacle West Capital by 0.9% in the third 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 in the last quarter. Zimmer Partners LP lifted its position in shares of Pinnacle West Capital by 5.7% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Pinnacle West Capital by 0.5% in the third 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 in the last quarter. Empower Advisory Group LLC increased its holdings in Pinnacle West Capital by 2.0% during the third quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider's stock worth $86,230,000 after buying an additional 18,673 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in Pinnacle West Capital by 1.6% during the third quarter. Captrust Financial Advisors now owns 732,031 shares of the utilities provider's stock worth $64,851,000 after buying an additional 11,208 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PNW. Jefferies Financial Group lowered their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Morgan Stanley lowered their target price on shares of Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, November 22nd. KeyCorp upgraded shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 target price on the stock in a report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. Finally, Citigroup boosted their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $85.21.

Pinnacle West Capital Stock Performance

Shares of NYSE:PNW traded up $0.02 on Friday, hitting $89.37. The company had a trading volume of 1,003,110 shares, compared to its average volume of 1,018,614. The stock has a 50 day moving average price of $86.14 and a 200 day moving average price of $87.85. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 3.47 and a beta of 0.57. Pinnacle West Capital Co. has a 1-year low of $66.77 and a 1-year high of $95.42. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be given a $0.895 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.01%. Pinnacle West Capital's payout ratio is presently 67.80%.

Pinnacle West Capital Company 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.