Captrust Financial Advisors Acquires 11,208 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Captrust Financial Advisors lifted its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 732,031 shares of the utilities provider's stock after buying an additional 11,208 shares during the quarter. Captrust Financial Advisors owned about 0.64% of Pinnacle West Capital worth $64,851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Pinnacle West Capital by 377.9% in the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock worth $28,000 after buying an additional 291 shares in the last quarter. Cape Investment Advisory Inc. purchased a new stake in shares of Pinnacle West Capital during the first quarter worth about $30,000. Venturi Wealth Management LLC lifted its holdings 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 worth $38,000 after purchasing an additional 238 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Pinnacle West Capital in the 3rd quarter worth approximately $43,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Pinnacle West Capital during the 2nd quarter valued at approximately $52,000. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Trading Down 0.9 %

Shares of NYSE:PNW traded down $0.82 on Friday, hitting $93.70. 507,868 shares of the company's stock were exchanged, compared to its average volume of 1,164,630. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.24 and a beta of 0.52. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $95.42. 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 business's 50 day simple moving average is $89.38 and its two-hundred day simple moving average is $84.55.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, November 4th. 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

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a research report on Monday, August 5th. Jefferies Financial Group began coverage on Pinnacle West Capital in a research report on Thursday, September 19th. They set a "buy" rating and a $104.00 price objective for the company. Barclays cut shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Wells Fargo & Company boosted their price objective on 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. Finally, Morgan Stanley lowered their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating for the company in a research note on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock 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.