Pinnacle West Capital Co. (NYSE:PNW) Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC increased its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 973,357 shares of the utilities provider's stock after purchasing an additional 18,673 shares during the quarter. Empower Advisory Group LLC owned approximately 0.86% of Pinnacle West Capital worth $86,230,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. GSA Capital Partners LLP bought a new stake in Pinnacle West Capital during the third quarter valued at about $905,000. Entropy Technologies LP raised its holdings in Pinnacle West Capital by 170.1% during the third quarter. Entropy Technologies LP now owns 30,314 shares of the utilities provider's stock valued at $2,686,000 after acquiring an additional 19,089 shares during the period. Versor Investments LP raised its holdings in Pinnacle West Capital by 30.4% during the third quarter. Versor Investments LP now owns 12,000 shares of the utilities provider's stock valued at $1,063,000 after acquiring an additional 2,800 shares during the period. Venturi Wealth Management LLC raised its holdings in Pinnacle West Capital by 124.6% during the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 238 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in Pinnacle West Capital during the third quarter valued at about $2,514,000. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Up 0.3 %

NYSE:PNW traded up $0.28 during trading hours on Wednesday, hitting $91.20. The company's stock had a trading volume of 494,921 shares, compared to its average volume of 1,149,723. The stock has a market capitalization of $10.37 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52. The stock has a fifty day moving average of $88.52 and a 200-day moving average of $82.97. 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 Co. has a 52-week low of $65.20 and a 52-week high of $93.12.

Pinnacle West Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 3.93%. The ex-dividend date is Monday, November 4th. This is a positive change from Pinnacle West Capital's previous quarterly dividend of $0.88. Pinnacle West Capital's dividend payout ratio is 67.80%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PNW shares. Morgan Stanley lifted their price target on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They issued a "buy" rating and a $104.00 price target for the company. StockNews.com raised shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company increased their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Pinnacle West Capital presently has an average rating of "Hold" and a consensus target price of $80.96.

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.