Empowered Funds LLC Makes New Investment in Pinnacle West Capital Co. (NYSE:PNW)

Empowered Funds LLC acquired a new stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,077 shares of the utilities provider's stock, valued at approximately $346,000.

Other large investors have also bought and sold shares of the company. State Street Corp raised its position in shares of Pinnacle West Capital by 0.9% during the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider's stock valued at $567,394,000 after acquiring an additional 56,644 shares during the last quarter. Zimmer Partners LP grew its stake in shares of Pinnacle West Capital by 5.7% during 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 during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $91,078,000 after purchasing an additional 5,066 shares during the last quarter. Empower Advisory Group LLC lifted its stake in Pinnacle West Capital by 2.0% in the third quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider's stock valued at $86,230,000 after buying an additional 18,673 shares during the period. Finally, Captrust Financial Advisors boosted 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. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays cut Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Morgan Stanley lowered their target price on shares of 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. Citigroup boosted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Wells Fargo & Company raised 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, Jefferies Financial Group reduced their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $85.21.

Pinnacle West Capital Stock Up 0.7 %

NYSE:PNW traded up $0.62 during trading hours on Monday, reaching $92.20. 1,194,443 shares of the stock were exchanged, compared to its average volume of 1,006,967. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a twelve month low of $66.77 and a twelve month high of $95.42. The stock has a market cap of $10.48 billion, a PE ratio of 17.46, a PEG ratio of 3.59 and a beta of 0.57. The firm has a 50 day moving average of $86.39 and a 200 day moving average of $88.07.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital's dividend payout ratio is currently 67.80%.

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.