Entropy Technologies LP Boosts Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Entropy Technologies LP lifted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 170.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,314 shares of the utilities provider's stock after buying an additional 19,089 shares during the quarter. Entropy Technologies LP's holdings in Pinnacle West Capital were worth $2,686,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. First Horizon Advisors Inc. grew its position in shares of Pinnacle West Capital by 20.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider's stock worth $61,000 after buying an additional 137 shares during the period. GAMMA Investing LLC grew its position in shares of Pinnacle West Capital by 13.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider's stock worth $102,000 after buying an additional 138 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Pinnacle West Capital by 2.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,581 shares of the utilities provider's stock worth $583,000 after buying an additional 169 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Pinnacle West Capital by 0.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider's stock worth $1,659,000 after buying an additional 199 shares during the period. Finally, Private Advisor Group LLC grew its position in Pinnacle West Capital by 2.2% in the 3rd quarter. Private Advisor Group LLC now owns 9,392 shares of the utilities provider's stock valued at $832,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

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

Pinnacle West Capital Price Performance

NYSE PNW traded down $0.99 during trading hours on Tuesday, reaching $90.92. 1,250,146 shares of the stock traded hands, compared to its average volume of 1,152,878. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.48. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.15 and a beta of 0.52. The stock has a 50 day simple moving average of $88.52 and a two-hundred day simple moving average of $82.97. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $93.12.

Pinnacle West Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.895 per share. This is a boost from Pinnacle West Capital's previous quarterly dividend of $0.88. This represents a $3.58 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Monday, November 4th. Pinnacle West Capital's dividend payout ratio (DPR) is presently 67.80%.

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.